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Report: Total US Home Value at $49.6 Trillion Record High

Report: Total US Home Value at $49.6 Trillion Record High

by Phil Hall | Aug 8, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The total value of US homes gained $3.1 trillion during the past 12 months, a 6.6% year-over-year spike that resulted in a new record high of $49.6 trillion, according to a data report from Redfin (NASDAQ:RDFN). On a decade-over-decade measurement, the total value of...
Survey: One in Five Buyers Willing to Sacrifice Safety for Affordable Home

Survey: One in Five Buyers Willing to Sacrifice Safety for Affordable Home

by Phil Hall | Aug 5, 2024 | Current News & Events, Industry Updates, Real Estate News, U.S. Housing Market, WRE News Exclusive

Nearly one in every five (17.3%) house hunters are willing to sacrifice their physical safety to find a home they can afford within the next year, according to a new survey of 3,000 homeowners and renters from Redfin (NASDAQ:RDFN). Among age demographics, nearly one...
Report: Average Commission for Buyer’s Agent is 2.55%

Report: Average Commission for Buyer’s Agent is 2.55%

by Phil Hall | Aug 2, 2024 | Current News & Events, Real Estate News, WRE News Exclusive

The typical home seller pays an average of 2.55% commission to the real estate agent hired by their home’s buyer, according to an analysis of MLS data by Redfin (NASDAQ:RDFN). That’s down from an average of 2.62% in January, two months before the National Association...

Renter Population Is Growing 3X Faster Than Homeowner Population

by Phil Hall | Aug 2, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The number of US renter households in the second quarter grew 1.9% year-over-year, according to a new data report from Redfin (NASDAQ:RDFN). The renter growth is more than three times faster than the number of homeowner households, which grew 0.6% in the second...
The New Normal: Million-Dollar Starter Homes

The New Normal: Million-Dollar Starter Homes

by Phil Hall | Jul 25, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

First-time homebuyers in 237 cities are finding the typical starter home is priced at $1 million or higher, according to new data from Zillow (NASDAQ:Z, ZG). Five years ago in the pre-pandemic housing market, only 84 cities offered $1 million starter homes....
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