Real Estate

A new report from Redfin revealed the share of homes bought with cash is down slightly from November but remains elevated above pre-pandemic levels as high mortgage rates persist, averaging 6.36% in December.

"Even though rent prices are starting to cool, they are still significantly higher than they were a year ago,” said Amanda Pendleton, Zillow home trends expert. “Renters considering going solo this year must decide how valuable living alone is to them, and if the cost is worth it."

"Mortgage rates declined in January, continuing a trend that began in early November 2022," said Kevin McMahon, President of Optimal Blue, a division of Black Knight.

Surveyed consumers' top areas of concern remain the ability to save money and afford housing payments, with many consumers citing problems affording household necessities, according to a new report from Fannie Mae.

According to a new report from Realtor.com, some 80% of Gen Z respondents who have moved in with a romantic partner say that finances and/or logistics contributed to their decision.

“By Super Bowl weekend, we usually have a good idea how a given year’s housing market will play out. But this year is anything but typical,” said Redfin Economics Research Lead Chen Zhao.

“A slowdown in home prices is underway and welcomed, particularly as the typical home price has risen 42% in the past three years,” National Association of Realtors Chief Economist Lawrence Yun said.

“A slowdown in home prices is underway and welcomed, particularly as the typical home price has risen 42% in the past three years,” National Association of Realtors Chief Economist Lawrence Yun said.

As rent growth experienced the smallest increase since May 2021 and the lowest level in nearly a year, a new report from Redfin revealed January marked the eighth straight month in which annual rent growth slowed.

Rents rose 2% in January according to a new report from Redfin, as rental price growth continues to slow due to increasing supply and waning demand.