Home Sellers Are Cutting Prices at a Record Rate to Lure Skittish Buyers
One of every six (16.7%) U.S. home sellers dropped their asking price in August, up from 15.9% a year earlier and the highest share for that month in records dating back to 2012. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Redfin Reports Pending Home Sales Slide, But There Are Bright Spots: Buyers Have Bargaining Power, Starter-Home Sales Improving
Pending U.S. home sales fell roughly 1% from a year earlier during the four weeks ending September 28, the biggest decline in nearly five months, according to a new report from Redfin, the real estate brokerage powered by Rocket. On a local level, pending sales fell in 30 of the 50 largest U.S. metro areas, led by Houston (-15.4% year over year), Denver (-12.3%) and Las Vegas (-11.2%).
Typical U.S. Luxury Home Price Rises 4% to $1.25M as Sales Fall to Lowest August Level in Over a Decade
Luxury home sale prices rose 3.9% year over year to a median $1.25 million, a record high for the month of August, but down from the all-time high of $1.35 million in March, a month when prices are typically higher. This is according to a new report from Redfin, the real estate brokerage powered by Rocket.
Starter-Home Sales Up 4% as Demand for Higher-Priced Options Stumbles
The typical U.S. starter home sold for a record $260,508 in August, rising 2.2% from a year earlier as sales continued to outpace those of higher-priced tiers. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. Mid- and high-price home prices grew 1.4% and 2.7% year over year, respectively, to near-record highs of $370,000 and $575,000.
Share of Mortgages With Rates Above 6% Climbs to 10-Year High as Americans Adapt to New Normal
The share of mortgaged U.S. homeowners with a rate of at least 6% rose to 19.7% in the second quarter, the highest level since 2015, according to a new report from Redfin, the real estate brokerage powered by Rocket. And with the weekly average mortgage rate fluctuating above 6% since September 2022, that share is growing steadily—rising between 0.8ppts and 1.4ppts each quarter for the past two years.
Redfin Reports Pending Home Sales Post First Decline in 3 Months, Even As Mortgage Rates Drop
Pending U.S. home sales dipped roughly 1% from a year earlier during the four weeks ending September 21, the first decline in nearly three months, according to a new report from Redfin, the real estate brokerage powered by Rocket.
Redfin Reports U.S. Home Prices Ticked Up 0.2% in August
U.S. home prices rose 0.2% from a month earlier in August on a seasonally adjusted basis, up slightly from the 0.0% monthly growth rate posted in July. August marks the first time since January that the rate of home-price growth increased compared to the prior month, according to a new report from Redfin, the real estate brokerage powered by Rocket.
Rick Caruso’s Former Estate Sells for $48 Million, the Most Expensive Home Sale in August
A Beverly Hills estate previously owned by billionaire real estate magnate and 2022 Los Angeles mayoral candidate Rick Caruso was the most expensive home sale of August, fetching $48 million. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. It’s followed by a new-construction mansion in Greenwich, CT, which fetched $44 million.
Redfin Reports Summer 2025 Was the Strongest Buyer’s Market in Records Dating Back Over a Decade
There were an estimated 35.2% more home sellers than buyers in the U.S. housing market in August (or 505,915 more, in numerical terms). This is according to a new report from Redfin, the real estate brokerage powered by Rocket. June 2025 is the only month in records dating back 2013 when sellers outnumbered buyers by a greater percentage—36.3%. In other words, this summer was the strongest buyer’s market on record.
Housing Supply Drops Most in 2 Years as Sluggish Demand Spooks Sellers
Active listings of homes for sale fell 1.4% month over month in August—the largest seasonally-adjusted decline since June 2023, according to a new report from Redfin, the real estate brokerage powered by Rocket. They rose 9.7% from a year earlier—the smallest year-over-year increase since March 2024.
Homeowners in New York, California and Other Coastal States Could Shave Thousands Off Their Annual Tax Bill with SALT Cap Increase
The typical New York homeowner impacted by the raised state and local tax (SALT) deduction cap could save more than $7,000 a year—the highest of any state. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
With Mortgage Rates Declining, Homebuyers Must Decide: Buy Now With Little Competition, Or Bet on Rates Falling More?
The median U.S. home-sale price rose 2.2% year over year during the four weeks ending September 14, the biggest increase in five months. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
The Most Expensive College Towns in the Nation Have One Thing in Common: They’re on the Beach
Santa Barbara, CA, is the most expensive college town in the U.S., according to a new report from Redfin, the real estate brokerage powered by Rocket. Santa Barbara’s median home-sale price is nearly $2 million, more than double the next-most expensive college town.
Redfin Reports The Number of Canadians Searching For U.S. Homes Is Down 20% From Last Year
The number of Canadian Redfin.com users searching for homes to buy or rent in the U.S. dropped 19.5% year over year in August, according to a new report from Redfin, the real estate brokerage powered by Rocket. For comparison, the total number of prospective buyers and renters searching on Redfin.com declined, too, but by a fraction of the amount.
Redfin Reports New Apartments Are Increasingly Likely to Get Snapped Up Quickly as Construction Slows
Roughly half (48%) of newly built apartments completed in the first quarter of 2025 were rented within three months, according to a new report from Redfin, the real estate brokerage powered by Rocket. That is up from 47% in the fourth quarter of 2024 and 46% the quarter before that.
Redfin Reports Lower Mortgage Rates Trim Hundreds off Monthly Payments, yet Homebuyers Are Still Cautious
Declining mortgage rates are one factor pushing the median U.S. monthly mortgage payment down to $2,604, more than $200 below May’s all-time high. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Redfin Reports U.S. Asking Rents Rise Most Since 2022 As Apartment Construction Slows
The median U.S. asking rent rose 2.6% ($45) year over year to $1,790 in August—the largest increase since December 2022. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. It’s now just $70 below the record high hit in the summer of 2022.
U.S. Investor Home Purchases Fell 6% in the Second Quarter, the Biggest Decline Since 2023
U.S. real estate investors purchased roughly 52,000 homes in the second quarter, the lowest level for that time of year since 2020, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s down 6% from a year earlier, the biggest drop since the fourth quarter of 2023.
Black Homeownership Rate Drops to Lowest Level Since 2021
The Black homeownership rate fell to 43.9% in the second quarter—the lowest level since the fourth quarter of 2021, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s down from 45.3% a year earlier, marking the largest year-over-year decline since the third quarter of 2021.
Redfin Reports Cheaper Mortgage Payments Bring a Trickle, Not a Surge, of Homebuying Demand
Declining mortgage rates have pushed the median U.S. monthly housing payment down to $2,593, the lowest level since January, according to a new report from Redfin, the real estate brokerage powered by Rocket. The weekly average mortgage rate has ticked down to 6.56%, the lowest level in nearly a year.
Redfin Reports U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade
The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in the second quarter, according to a new report from Redfin, the real estate brokerage powered by Rocket. While that’s a marginal decline, it’s the first since 2016.
In Vacation Towns, Home Sales Are Falling and Prices Are Stagnating
The number of homes sold in seasonal towns, those where vacation demand drives the housing market, fell 3% year over year in July, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s compared to a 1% decline in non-seasonal towns.
Redfin Reports U.S. Housing Costs to Return to ‘Normal’ by 2030 With Stable Price Growth and Moderately Lower Rates
Housing costs could return to “normal” by 2030 if home-price growth stabilizes and mortgage rates fall to 5.5%, according to a new report from Redfin, the real estate brokerage powered by Rocket.
Redfin Reports Pending Home Sales Rise 2% as Mortgage Rates Sit at Lowest Level in 10 Months
Falling mortgage rates have pushed the median U.S. monthly mortgage payment down to $2,616, its lowest level since the start of the year, according to a new report from Redfin, the real estate brokerage powered by Rocket. The weekly average mortgage rate is sitting at 6.58%, its lowest level in 10 months.
Las Vegas Housing Supply Rises 31% As Demand Stumbles, Pushing Sale Prices Down Slightly
The total number of homes for sale in Las Vegas rose 31% year over year in July, the biggest increase of any major U.S. metro area and roughly triple the national increase. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. That marks a year straight of 20%-plus inventory increases for Las Vegas.
