-
2 weeks ago | 
redfin.com | Mark Worley
The typical luxury home costs less than $1 million in seven of the top 50 most populous metros, down from 30 metros just five years ago. The most affordable metro for buying a high-end property is Detroit, where the median price for a luxury home was $753,851 in April—44.1% less than the typical luxury home nationwide.
-
1 month ago | 
redfin.com | Mark Worley
The typical U.S. luxury home sold for $1,348,065 in April, up 6.5% from a year earlier, but down slightly from the record high set in March. Economic uncertainty is pushing high-end buyers to the sidelines, with pending sales of luxury homes down 9.9% year over year. That is the largest annual decline since August 2023 and the lowest level for any April since 2014. The typical luxury home sold in 52 days in April, virtually unchanged from 51 days a year ago.
-
1 month ago | 
redfin.com | Mark Worley
U.S. home prices in April nudged down 0.1%, the first month-over-month decline since September 2022. Home prices rose 4.1% year over year—the smallest increase since July 2023. Half of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Charlotte (-1%). U.S. home prices ticked down 0.1% in April on a seasonally adjusted basis, the first month-over-month decline since September 2022.
-
1 month ago | 
redfin.com | Mark Worley |Sheharyar Bokhari
The typical home bought in the U.S. hit a record age of 36 years in 2024—up from 27 years in 2012. Buyers pay less for older homes (over 30 years old) than for newer homes (under five years old), but the gap is shrinking. The typical home bought in Buffalo, NY in 2024 was 69 years old—the oldest among the 100 most populous metros—while the median home sold in Provo, UT was the youngest at six years old.
-
1 month ago | 
redfin.com | Mark Worley |Sheharyar Bokhari
Developers obtained permits to build 12.4 multifamily housing units for every 10,000 people in the U.S. over the past year—down 27.1% from the pandemic building boom and down 5.5% from before the pandemic. Austin, TX is issuing more multifamily permits than any other metro Redfin analyzed, while Stockton, CA is issuing the least. Nearly two thirds (63%) of major metros are issuing fewer permits than they were during the pandemic.
-
Mar 27, 2025 | 
redfin.com | Mark Worley |Asad KHan |Asad Khan |Daryl Fairweather
Brooklyn’s Prospect Heights and Clinton Hill top Redfin’s 2025 list of hot neighborhoods, after posting a 105% spike in home sales from a year ago. Five of the 10 hottest neighborhoods are located on the outskirts of Midwestern metros, with buyers seeking affordability and an easy commute. A neighborhood in the heart of San Francisco and a commuter suburb just outside Washington, D.C. also made the top 10. Five of Redfin’s 10 hottest neighborhoods of 2025 are in Midwest suburbs.
-
Mar 11, 2025 | 
redfin.com | Mark Worley
The combined net worth of America’s wealthiest 1% has grown to a record $49.2 trillion, almost the same as the combined value of all the homes in the U.S.Real estate makes up 12.3% of the net worth of the top 1%, compared to 46.4% of the net worth of the bottom 50%. The top 1% owns a disproportionate 13.4% of real estate assets in the U.S.The combined net worth of the wealthiest 0.1% has grown by $4.4 trillion in the past two years—more than the combined net worth of the bottom 50%.
-
Mar 4, 2025 | 
redfin.com | Mark Worley |Sheharyar Bokhari
Rents have been falling most of the past year thanks to an increase in new construction, but permits for new apartment buildings are slowing. It’s too early to assess the impact of federal government layoffs on the D.C. housing market, but rents could fall more if significant numbers of workers move away.
-
Feb 20, 2025 | 
redfin.com | Mark Worley |Chen Zhao
The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion, representing more than 20% of the U.S. market. Two upstate New York metros—Albany and Rochester—had the fastest growth in aggregate home value, while Florida metros grew more slowly. San Diego and Seattle look set to join eight other metros with homes worth $1 trillion in 2025.
-
Feb 19, 2025 | 
redfin.com | Mark Worley |Chen Zhao
There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying demand has tilted the national market in favor of buyers, with listings starting to pile up in many areas across the country. Florida metros top the list of buyer’s markets, led by Cape Coral and Miami. Two upstate New York metros—Rochester and Buffalo—top the list of markets which still favor sellers.
