There were an estimated 506,000 more home sellers than buyers in August, meaning buyers held the negotiating power. But the tables could turn if falling mortgage rates bring more buyers off the sidelines. The number of buyers in the market fell to an estimated 1.4 million last month—the lowest level in records dating back to
The typical New York household impacted by the raised SALT cap will save $7,092 annually—the most of any state. 86% of Massachusetts homeowner households could benefit from the increased SALT cap—the highest share of any state. In comparison, only 1% of households in Tennessee and Nevada are expected to benefit. States with high home values
San Francisco is the only major U.S. metro area where housing costs have returned to “normal”—and Bay Area neighbors Oakland and San Jose are not far off. Redfin today published a report projecting hypothetical scenarios where U.S. housing costs will return to “normal” within the next ten years, using the mortgage payment-to-income ratio as the
This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with good reason: home prices are near record highs, mortgage rates remain elevated, and not enough homes are being built to meet demand in many areas of the country. But recent
There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of the pandemic. That’s making sellers skittish; the number of sellers has dipped by roughly 14,000 since May, falling for the first time in two years. Still, there are 36% more
Redfin publishes estimates on the number of homebuyers and sellers active in the U.S. housing market via reports on our news site and a dashboard on our data center. This post details the methodology behind our analysis. The estimated number of sellers in the market is simply the number of active listings in the MLS.