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Housing Purchase Deals Being Canceled at Record Rate

Housing Purchase Deals Being Canceled at Record Rate

by Phil Hall | Jul 23, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The housing market has developed a massive case of cold feet as home purchase transactions are being canceled at a record rate, according to new data from Redfin (NASDAQ:RDFN). During June, Redfin recorded nearly 56,000 home-purchase agreements cancelations, equal to...
Redfin: Only 39% of Renters Can Afford a Median-Priced Apartment

Redfin: Only 39% of Renters Can Afford a Median-Priced Apartment

by Phil Hall | Jun 24, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new data analysis by Redfin (NASDAQ:RDFN) has determined only 39% of renters are earning enough to afford the median-priced apartment. During May, the $1,653 median apartment asking rent in May was $47 below its record high. According to the new data analysis, the...
Redfin: Only 39% of Renters Can Afford a Median-Priced Apartment

More Renters Are Staying Put Longer

by Phil Hall | May 31, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new survey from Redfin (NASDAQ:RDFN) found one in six renters (16.6%) stayed in their home for 10 years or more in 2022, up from 13.9% one decade earlier. Furthermore, one in six (16.4%) renters lived in their home for five to nine years in 2022, up from 14% a...
Average Teacher Can Only Afford 12% of Homes Within Commuting Distance to School

Average Teacher Can Only Afford 12% of Homes Within Commuting Distance to School

by Phil Hall | Aug 15, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The average American teacher can only afford 12% of the homes for sale within commuting distance of their school, according to a new data study from Redfin (NASDAQ:RDFN). The new data is down from 17% in the summer of 2022 and down 30% from pre-pandemic 2019. And the...
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