US Real Estate

‘Redfin agents report that some buyers are getting cold feet due to widespread economic and political uncertainty,’ the brokerage says.

The West experienced the largest decline, at nearly 4 percent.

The good news for homebuyers is that prices have dropped.

The age 55-plus segment represents 30 percent of housing sharing and reflects the aging U.S. population.

The median home sale price was $438,466 in April, when there were 1.94 million homes for sale, up by more than 16 percent from a year back.

South Carolina had the highest foreclosure rate, followed by Illinois and Florida.

The report shows that households earning $75,000 annually are unable to afford 75 percent of homes currently listed.

Rising construction costs and high interest rates are making it difficult for builders to deliver affordable homes.

The report indicated that only 9 percent of U.S. homes were built in the 2010s, the lowest share of any decade since the 1940s.

Vermont saw the largest mortgage debt increase in 2024.

Data show a slight decline from 89 percent in the previous quarter, with housing affordability also showing slight improvement.

Many Americans are still being priced out of homeownership due to high interest rates and increasing home costs, according to a real estate finance expert.

Multifamily building permits declined 27 percent from pandemic highs, with Austin, Texas, leading in new permits while cities like Stockton, California, stall.

Home buying and selling remained sluggish last month due to affordability challenges, NAR’s chief economist said.

Offerings include interest-rate buy down programs, forward commitments, and 40-year mortgages.

Elevated mortgage rates contribute to keeping prospective buyers from owning a home.

San Antonio saw the largest decline in property prices, followed by Oakland and Jacksonville.

The median home sales price continued to grow at 2.7 percent year over year to a new national median of $403,700, an all-time high for the month of March.

Columbus, Ohio, saw the largest monthly price decline among 50 metros, while San Francisco reported the biggest gain.

Cautious homebuyers remain on the sidelines.