Florida real estate struggles as ‘motivated’ sellers flood market

Once a red-hot destination for out-of-state homebuyers, Florida is seeing its inventory of homes for sale skyrocket and price growth stagnate. “Florida is very unique,” Redfin’s chief economist Daryl Fairweather told CNBC’s “Last Call” on Wednesday. “It was one of the only markets that actually sustained price growth after interest rates went up, so I … Read more

Luxury real estate prices hit an all-time record, Redfin says

Real estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory. Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin. Yet, luxury real estate sales increased more than 2%, … Read more

Why new build homes can lead to a property tax surprise

Comstock Images | Stockbyte | Getty Images It’s not unusual for new homeowners to face financial surprises, but people buying a newly built home may be more likely to encounter sticker shock on a key expense. Almost 75% of recent homebuyers had regrets about their purchase, according to a 2023 survey from Real Estate Witch. … Read more

Housing ‘affordability has just totally collapsed,’ economist says

10’000 Hours | Digitalvision | Getty Images Housing costs are outpacing median household incomes in the U.S., further straining affordability. Would-be homebuyers need to earn $113,520 a year to afford the typical house in the U.S. That is 35% more than what the typical household earns annually ($84,072), according to a new analysis by Redfin, … Read more

Why home prices have risen faster than inflation since the 1960s

Westend61 | Westend61 | Getty Images While inflation is 10 times higher now than 60 years ago, home prices are 24 times more expensive, a new study found. If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to … Read more

Where people are moving to escape poor air quality

Eduardo Munoz Alvarez | Getty Images While both renters and homeowners are beginning to take climate hazards into consideration, affordability continues to drive moving trends. Between 2021 and 2022, about 1.2 million more homeowners and renters moved out of than moved into U.S. cities with high risk of poor air quality, according to a new … Read more

Home sales dampened by severe winter weather, Redfin says

A “For Sale” sign stands outside a home following a snow fall in Geneseo, Illinois, U.S., on Monday, Jan. 20, 2020. The National Association Of Realtors is scheduled to release Existing Homes Sales figures on January 22. Photographer: Bloomberg | Bloomberg | Getty Images Severe winter weather is hindering home sales across the country, according … Read more

How Gen Zers can build credit before renting their own place

Fg Trade | E+ | Getty Images Rising inventory is helping push rent prices down. For young adults, building credit is a smart step to take as they prepare to enter the rental housing market. The median U.S. asking rent price in December was $1,964, a 0.8% decline from a year ago, according to real … Read more