Articles

  • 3 weeks 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 5, 2025 | redfin.com | Dana Anderson |Sheharyar Bokhari

    Investor activity is declining nationwide due to slow homebuying demand, a lackluster rental market, economic uncertainty and elevated interest rates. Investor market share is falling, too: They bought 17% of homes that sold in the fourth quarter, down from 19% a year earlier. Florida investors are pulling back fastest, with purchases down 28% year over year in Orlando and down 21% in Miami. Investor purchases of condos fell 13% year over year to their lowest level of any fourth quarter since 2012.

  • Feb 25, 2025 | themortgagepoint.com | Eric C. Peck |Sheharyar Bokhari

    As inflation continues to impact the wallet of Americans, potential home buyers are being impacted as well. Whereas 10% of the price of a home was the standard fare for down payments, a new report from Redfin has found that the typical U.S. homebuyer’s down payment was 16.3% of the purchase price in December 2024, up from 15% a year earlier. In dollar terms, the typical homebuyer’s down payment was $63,188—up 7.5% from a year earlier, marking the biggest increase in five months.

  • Feb 18, 2025 | redfin.com | Mark Worley |Sheharyar Bokhari

    Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the slowest pace since August 2023. Ten of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Tampa (-1.6%). U.S. home prices rose 0.6% from a month earlier in January on a seasonally adjusted basis, a tick faster than the 0.5% growth experienced each of the three months prior.

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