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Average Homebuyer’s Monthly Mortgage Payment Up 19% From Last Year

Average Homebuyer’s Monthly Mortgage Payment Up 19% From Last Year

by Phil Hall | Aug 4, 2023 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The typical U.S. homebuyer’s monthly mortgage payment was $2,605 during the four weeks ending July 30, according to new data from Redfin (NASDAQ:RDFN). This represents a 19% year-over-year spike, but it is also $32 less than the record-high payment level from early...
Zillow and Redfin Partner on New-Construction Listings Endeavor

Zillow and Redfin Partner on New-Construction Listings Endeavor

by Phil Hall | Aug 1, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Zillow Group (NASDAQ:Z, ZG) is teaming with Redfin (NASDAQ:RDFN) in a strategic partnership designed to expand the reach of home builder listings on Zillow and while allowing Redfin customers to explore a broader range of new-construction homes for sale. Builders...
First-Time Buyers Need to Earn 13% More Than a Year Ago to Purchase Starter Home

First-Time Buyers Need to Earn 13% More Than a Year Ago to Purchase Starter Home

by Phil Hall | Jul 28, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

What a difference a year makes – according to Redfin (NASDAQ:RDFN), a first-time homebuyer must earn roughly $64,500 per year to afford the typical “starter” home, up by $7,200 or 13% from one year earlier. Redfin reported the typical starter home sold for a record...
San Francisco Leads the Nation in Declining Luxury Home Sales

San Francisco Leads the Nation in Declining Luxury Home Sales

by Phil Hall | Jul 26, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

There is more unpleasant real estate news from San Francisco – according to Redfin (NASDAQ:RDFN), luxury home prices in San Francisco are falling faster than anywhere else in the nation. The median sale price of luxury homes in San Francisco plummeted by 12.7%...
Redfin: 1% of US Homes Changed Hands Year-to-Date

Redfin: 1% of US Homes Changed Hands Year-to-Date

by Phil Hall | Jul 19, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Only 1% of all U.S. homes, or approximately 14 of every 1,000 residences, changed hands during the first half of 2023, according to data from Redfin (NASDAQ:RDFN). That’s down from 19 of every 1,000 during the same period of pre-pandemic 2019 and the lowest turnover...
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