Redfin reports many homeowners wouldn’t be able to afford to buy their home if they were to purchase it today because home prices have doubled over the last decade.
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Commercial foreclosures in March increased 6 percent from February and 117 percent year-over-year, according to property data curator ATTOM.
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Daily average mortgage rates jumped to their highest level since last November after a recent inflation report, according to Redfin.
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Competition is stiff for attractive home listings, as houses sold in just 13 days in March, on average. Seasonal home value growth is fastest in the most expensive major metros, according to Zillow.
Daily average mortgage rates reached their highest level in nearly five months following a recent hotter-than-expected inflation report, according to Redfin.
Major homeownership expenses required a smaller portion of wages for the second straight quarter, but that share remains the largest it’s been in 15 years, according to ATTOM.
Redfin reports over one-third of home purchases in February were made in all cash — not far from the record high. Typical down payments were up 24 percent from the same time last year.
New listings are rising fastest in metros where more homes are owned outright, without a mortgage. Baby boomers in Pittsburgh ranked as the least “locked-in” to their current home.
Redfin reports there are more homes for buyers to choose from, with new listings posting their biggest uptick in nearly three years.
New data from Zillow shows the number of cities where the typical home value is $1 million or more hit a record level.