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Median Asking Rent Price Has First Year-Over-Year Drop in Three Years

Median Asking Rent Price Has First Year-Over-Year Drop in Three Years

by Phil Hall | Jun 9, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median asking price for rental housing was $1,995 in May, a 0.6% year-over-year decline, according to new data from Redfin (NASDAQ:RDFN). This marked the largest annual decline since March 2020, the first annual decline since March 2020 and a significant shift...
New Home Listings Down 25% From One Year Ago

New Home Listings Down 25% From One Year Ago

by Phil Hall | Jun 8, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

New listings have become the housing market’s equivalent of an endangered species, as data report from Redfin (NASDAQ:RDFN) has determined new listings were down 25% year-over-year as of the four weeks ending June 4 – the lowest level of any early June on record....
One-Third of Homebuyers Now Paying in All-Cash Deals

One-Third of Homebuyers Now Paying in All-Cash Deals

by Phil Hall | Jun 7, 2023 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Now, here is some news that will not sit well with our mortgage banking friends: new data from Redfin (NASDAQ:RDFN) has determined one-third (33.4%) of U.S. home purchases in April were all-cash transactions, up 30.7% one year earlier and the highest share in nine...
Elon Musk Rebuked by Redfin’s CEO Over ‘Melting Down Fast’ Tweet on Home Values

Elon Musk Rebuked by Redfin’s CEO Over ‘Melting Down Fast’ Tweet on Home Values

by Phil Hall | May 31, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Elon Musk’s prediction that the U.S. residential real estate market is on the cusp of a collapse received a sharp rebuke from Glenn Kelman, CEO of the brokerage Redfin (NASDAQ:RDFN). On Monday afternoon, the Tesla (NASDAQ:TSLA) chieftain offered a doom-and-gloom...

Q1 Investor Home Purchases Plummet 49% Year-Over-Year

by Phil Hall | May 31, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Property acquisitions by real estate investors during the first quarter were down by 48.6% from one year ago, according to new data from Redfin (NASDAQ:RDFN). This marks the largest annual decline on record, and outpaced the 40.7% drop in overall home purchases in the...
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