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
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
Just 47% of newly-built apartments completed in Q3 were rented within three months as a record number of new apartments hit the market. But construction permits have started to decline, signaling that the number of new rentals will eventually start to fall, which could cause rents to tick up. Less than half (47%) of newly
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
The median rent in the District of Columbia rose 2.7% year over year in February, following three months of declines. Rents have been falling most of the past year thanks to an increase in new construction, but permits for new apartment buildings are slowing. It’s too early to assess the impact of federal government layoffs
Condo prices are up 5% year over year in inland Florida, but down a respective 5% and 3% on Florida’s Gulf Coast and Atlantic Coast. Inland Florida tends to have newer condos, which haven’t yet had to comply with new rules that have driven up HOA fees elsewhere in the state. It also has less