U.S. home prices rose 0.2% from a month earlier in August on a seasonally adjusted basis. On a year-over-year basis, home prices rose 3.1%, the slowest rate recorded in Redfin Home Price Index (RHPI) data going back to 2012. 26 of the 50 most populous U.S. metros saw month-over-month price declines. U.S. home prices rose
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
Nine percent of American workers are canceling plans to make a major purchase, such as buying a home or car, due to their feelings about job security, according to a Redfin survey. More than a third (35%) are delaying major purchase plans. Nearly a third (29%) of workers say they have either already made a
U.S. home prices fell 0.1% in July, the third month-over-month decline in the past three months. On a year-over-year basis, home prices rose 2.9%, the lowest annual rate in Redfin’s records going back to 2012. A record 39 of the top 50 U.S. metros saw month-over-month price declines. U.S. home prices nudged 0.1% lower in