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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.
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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.
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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.
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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.
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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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Feb 18, 2025 | 
redfin.com | Mark Worley |Sheharyar Bokhari
The percentage of U.S. home purchases made in cash fell to 32.6% in 2024, a three-year low, as the total number of all-cash purchases dropped to its lowest level in a decade. Florida homebuyers were most likely to pay cash. Just under one-third (32.6%) of U.S. home purchases were made in cash in 2024, down from 35.1% the year before and the lowest share since 2021. Still, all-cash sales made up a bigger piece of the homebuying pie than before the pandemic, when the share ranged from 25% to 30%.
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Jan 30, 2025 | 
yieldpro.com | Mark Worley |Sheharyar Bokhari |Mary Radcliffe |Kaleigh Rogers
Over a third of U.S. renters have lived in the same home for at least five years—up from 28.4 percent a decade ago according to a new report from Redfin. Economic fundamentals are likely a strong contributor to the ebb in move outs. In June 2022, consumer sentiment was at the lowest level recorded since 1966. The record-breaking University of Michigan Consumer Sentiment Index came in even lower than that during the Great Recession of 2008.
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Jan 29, 2025 | 
redfin.com | Mark Worley |Sheharyar Bokhari
The median asking rent for an apartment in downtown Seattle grew 2.5% year over year in December to $2,000—the first rise in 17 months. Seattle has built more new apartments than most major metros over the past few years, helping to keep rents in check, but demand may start to increase as companies like Amazon require staff to work in the office more frequently. Of Seattle’s inner neighborhoods, Capitol Hill (7.2%) saw rents rise the most in December, while Queen Anne fell the most (-13.7%).
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Jan 22, 2025 | 
redfin.com | Mark Worley |Sheharyar Bokhari
Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment—the lowest income required since early 2022. Texas metros Austin, Houston and Dallas are the most affordable for renters, while Providence, Miami and New York are the least affordable. The typical renter earns enough to afford the median rent in 15 of the 44 major metros Redfin analyzed.
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Jan 21, 2025 | 
redfin.com | Mark Worley |Sheharyar Bokhari
Home prices grew 0.4% month over month in December, rising at a slightly slower pace than the past four months. On a year-over-year basis, home prices closed out the 2024 calendar year up 5.4%, the smallest annual increase since 2015. 15 of the 50 most populous U.S. metros recorded a drop in home prices month over month. U.S. home prices rose 0.4% from a month earlier in December on a seasonally adjusted basis, slightly slower than the 0.5% growth posted in November.
