Homebuyers with secure, high-paying jobs and access to cash and credit take advantage of low mortgage rates, as job losses disproportionately affect low-income and Black workers, already excluded from homeownership. The impact of the coronavirus shutdowns on homebuyer demand has so far been short and muted, even in some of the cities that have been

Pending sales were up 33% and new listings increased 36% from April to May. Home prices nearly flattened, up just 0.5% from last year The housing market showed some early signs of recovery in May as the addition of homes for sale and contracts to buy homes both increased dramatically from April levels, but the

Closing on a home is exciting, but sometimes you encounter “inspection nightmares” that can break the deal. As a seller, inspection surprises can force you to spend thousands of unexpected dollars to get your house on the market. As a buyer, these surprises may preclude you from signing off on the home of your dreams.

There are all kinds of benefits to downsizing in your golden years — lower energy bills, a smaller space to clean and maintain, and the potential of moving closer to loved ones. It’s a wonderful way to open the door to the next stage of your life. Even so, decluttering and downsizing can be a

Web searches for single-family homes have popped as the coronavirus pandemic has turned privacy into a hot commodity. Online searches for single-family homes rose to the highest level in four years last month. This comes as the coronavirus pandemic drives buyers to seek out larger houses located farther away from dense urban areas. In May,

The outside world can be stressful and uncertain – especially right now. Additionally, our personal priorities pull us in many directions, from work calls and meetings to children’s activities, online schooling, and just the normal rigors of life. That’s why it’s more important than ever that our homes are havens for relaxation, rest, and happiness. 

Half of Redfin offers faced competition, up from 44% in April. In May, 49.4% of Redfin offers faced competition, up from 43.9% during the prior month. While sellers are jumping back into the market as states across the country reopen, there remains a shortage in houses for sale, which is fueling bidding wars; the number

Key Takeaways Demand is 25% above pre-pandemic levels. Buyers haven’t “batted an eyelash” over the possibility of a resurgent pandemic or now protests. Bidding wars are “bananas” with homes “flying off the shelves.” Sale prices are up 3.1%; asking prices are up 9.9%.  New listings are still 15% below last year’s levels. More listings may

The racist 1930s-era housing policy that effectively blocked Black families from obtaining loans continues to widen the wealth gap. Homeowners in redlined neighborhoods have earned 52% less in home equity than those in greenlined areas over the last 40 years. Redlining, the racist housing policy that was outlawed in the 1960s, remains a major factor

To Our Redfin Community: On May 31, Redfin joined many other people and companies denouncing racism and racial violence. We believe Black Lives Matter and we support police reform, but we’re writing today about a more fundamental responsibility our company has to address racism: integration.  We can’t come together for a protest and then return