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Canada Can’t Fix Its Housing Crisis Without a Land Value Tax
This article was co-authored with Floyd Marinescu and was originally published in the Toronto Star on June 22, 2024. Canada faces a housing crisis, with median home prices in Canadian metros reaching...
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Permits to Build U.S. Apartments Have Dropped Nearly 30% Since the Pandemic
Builders obtained permits to construct 13 multifamily units per 10,000 people this year, down from an average of 18 in 2021-2023. They’ve pumped the brakes because borrowing costs are high and there’s...
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Redfin Welcomes June Agent Hires
Redfin Premier agent Julie Granahan It’s my honor to introduce you to our June Newfins! I’m excited to welcome this group of talented lead agents and look forward to seeing what they achieve at Redfin....
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Rent Prices Are Dropping Across Florida’s Most Populous Metros
Asking rents fell a record 12% year over year in Jacksonville last month, and also declined in Tampa, Orlando and Miami. Austin, TX posted a record drop, too. Florida and Texas built a lot of...
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Climate Experts Explain How to Consider Extreme Weather Threats When Buying a...
Redfin’s chief economist and First Street’s head of research give homebuyers advice on how to think about climate disasters, insurance and home values when deciding what to buy Natural disasters are...
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Home-Sale Prices Hit Record High For 9th Straight Week, But Rising Supply and...
The median U.S. sale price is up 5% year over year. But there are signs that price growth could slow soon, with the average home selling for under list price, inventory rising and a high share of...
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Today’s Cooler-Than-Expected Inflation Report Will Push Down Mortgage Rates
It’s hot outside, but inflation is cooling. June’s CPI report is good news for the housing market, as it means the Fed is very likely to cut interest rates at their September meeting, the anticipation...
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Falling Mortgage Rates, Rising Supply Create Opportunity for Homebuyers This...
Homebuyers on a $3,000 monthly budget have gained over $20,000 in purchasing power since mortgage rates peaked in the spring. House hunters who have been waiting for mortgage rates to start declining...
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Redfin Economist Q&A: How Will Housing Affordability Impact the Presidential...
Younger voters are more likely to be impacted by high housing costs, especially renters. Older voters have fewer concerns about housing affordability since they own homes in higher percentages. A...
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In Swing States, Typical Homebuyer’s Monthly Payment Has Nearly Doubled Since...
Swing-state housing payments have nearly doubled since the 2020 election, as home prices and mortgage rates have soared. To look at affordability another way, the typical swing-state home has gone...
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A Federal Cap on Rent Hikes Would Ultimately Make Housing Less Affordable
The White House has proposed a national rent control policy, which sounds appealing in theory but would eventually increase costs for renters because it would exacerbate the supply shortage. If the...
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Why I Joined Redfin: Trevor Kemp
Trevor Kemp is a Redfin principal agent on Long Island, New York. He joined Redfin in June 2024 after more than a decade at East End Luxury Real Estate. We caught up with Trevor to hear more about his...
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Typical Monthly Housing Payment Drops to $115 Below Record High As Mortgage...
Mortgage rates dropped to their lowest level since February after the latest CPI report showed inflation cooling. Still, pending home sales posted their biggest decline in eight months. Daily average...
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Home Prices Keep Climbing, But at Slowest Pace Since Early 2023
Home prices grew 0.2% in June, the slowest pace since January 2023. Home price growth slowed in June for the fourth consecutive month. Falling mortgage rates and relatively low inventory levels are...
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Cold Feet: Buyers Backed Out of Deals at Record Rate in June as Home Prices...
About 56,000 home purchases were canceled, equal to 15% of homes that went under contract—the highest percentage of any June on record. Buyers are skittish due to elevated mortgage rates and...
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Nearly Two-Thirds of Home Listings Have Been Sitting on the Market Longer...
That’s up from 60% a year ago. More home listings are growing stale because high housing costs are dampening demand, while the supply of homes for sale is growing. Nearly two-thirds (64.7%) of homes...
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Typical Homebuyer’s Monthly Payment Drops to Lowest Level in 4 Months
Monthly housing payments are falling as mortgage rates decline, but many house hunters remain on the sidelines, with pending sales posting their biggest drop in nearly nine months. That’s because sale...
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Luxury Home Prices Spike 9% to All-Time High
Luxury home prices rose 8.8% year over year in the second quarter, more than twice as fast as non-luxury homes. Luxury home sales grew 0.2%, while sales of non-luxury homes fell 3.4% to the lowest...
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Why I Joined Redfin: Jin Hong
Jin Hong is a Redfin Premier agent in Orange County, CA. He joined Redfin in June 2024 after building a successful team at eXp. We caught up with Jin to hear more about his experience at Redfin so far....
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Here’s What a Second Trump Presidency Could Mean For the Housing Market
Donald Trump has said he wants to lower mortgage rates and loosen building regulations, which would make homes more affordable and increase supply. Several of his other stances would also impact...
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