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Hits and Misses for the Real Estate Week of May 22-26

Hits and Misses for the Real Estate Week of May 22-26

by Phil Hall | May 26, 2023 | Current News & Events, Hits and Misses, Real Estate News, WRE News Exclusive

A trade association leader takes aim at Washington, a regulator tries to blame her bad judgment on reporters and an Alabama city with a troubled past displays a glorious present. Looking into the wild and wooly world of real estate, here are our Hits and Misses for...
More Than 2 in 5 Home Sellers Are Making Concessions to Buyers

More Than 2 in 5 Home Sellers Are Making Concessions to Buyers

by Phil Hall | May 25, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

An increasing number of home sellers are making concessions to lure buyers into purchasing their properties. According to new data from Redfin (NASDAQ:RDFN), 42.9% of home sales during the three months ending April 30 involved seller concessions, up from 25.5% one...
There Are Only Four Major Metros Where it is Cheaper to Buy a Home Than Rent

There Are Only Four Major Metros Where it is Cheaper to Buy a Home Than Rent

by Phil Hall | May 22, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

There are only four major U.S. metropolitan areas where it would be cheaper to buy a residence than rent the typical home, according to data from Redfin (NASDAQ:RDFN). In Detroit, the typical home is 24% less expensive to buy than rent – the median estimated monthly...
Median US Home Price Dips to $371K

Median US Home Price Dips to $371K

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

The median U.S. home price was $371,875 at the conclusion of the four-week period ending May 14, according to data from Redfin (NASDAQ:RDFN). That represents a 2.7% drop, the smallest decline in over a month. The median asking price of newly listed homes was $398,429,...
Fewer Listings, But Faster Home Sales

Fewer Listings, But Faster Home Sales

by Phil Hall | May 12, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

New listings of homes for sale dropped 19% year over year during the four weeks ending May 7, according to data from Redfin (NASDAQ:RDFN). As a result of the inventory shortage and mortgage rates that remain above 6%, there were 16% fewer pending home sales than one...
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