Condo prices fell amid increasing HOA fees and insurance costs. Single-family home prices, by comparison, rose 0.5%. Condo sales dropped 12%—more than three times as much as sales of single-family homes. Florida is the epicenter of the condo slump, with prices and sales down over 30% in some areas. The median U.S. condo sale price
Home prices, while at a record high for this time of year, are growing at the slowest clip since 2023 because sellers outnumber buyers. Active listings hit a 5-year high in May, while existing-home sales hit a 7-month low. It took 38 days for the typical home to go under contract—the slowest May pace since
51% of surveyed homeowners and renters think less immigration could make homes more expensive, while 39% think it could make homes more affordable. 68% of respondents think tariffs could fuel price inflation and high interest rates, while 35% think they could make homes more affordable. Over half of U.S. homeowners and renters (51.2%) strongly or
The median U.S. asking rent dropped 1% year over year to $1,633 in May as elevated apartment supply gave renters room to negotiate. Asking rents fell fastest in Austin, down 9% to the lowest level since 2021. Rents hit a record high in four metros: Chicago, Cincinnati, Memphis and Washington, D.C. The median U.S. asking
There are 34% more sellers in the market than buyers. At no other point in records dating back to 2013 have sellers outnumbered buyers this much. In other words, it’s a buyer’s market. Redfin expects home prices to drop 1% by the end of the year as a result. Prospective buyers may see their purchasing
1 in 7 home-purchase agreements fell through last month. The share was higher in many parts of Florida, which is home to 5 of the 10 metros with the highest cancellation rates. Redfin agents say that when a deal is on shaky ground, it can be an opportunity for outbid buyers to get in the