Century Communities Keeps Control, Delivers In A Tough Quarter
Q3 performance spotlights cost control, strategic pricing, and buyer-first execution as Century Communities sets foundation for sustainable growth into 2026.| The Builder's Daily
Q3 performance spotlights cost control, strategic pricing, and buyer-first execution as Century Communities sets foundation for sustainable growth into 2026.| The Builder's Daily
The typical home that sold last month went for 1.4% less than its final list price—the biggest September discount in six years—as a slow housing market empowered buyers to negotiate. The typical home that sold also spent 50 days on the market—the slowest September pace in nearly a decade. Existing-home sales inched up to the […] The post Homebuyers Are Scoring the Biggest Autumn Discounts Since 2019 appeared first on Redfin Real Estate News.| Redfin Real Estate News
29% of U.S. homebuyers are paying in cash, down essentially unchanged from last year and down from a peak of nearly 35% two years ago due to declining mortgage rates. The typical down payment is climbing, partly because in today’s expensive market, many buyers are affluent. It now sits at a record $70,000, and in […] The post 29% of U.S. Home Purchases Are Made in Cash, Essentially Flat From a Year Ago appeared first on Redfin Real Estate News.| Redfin Real Estate News
California compounds and Colorado ski houses made up the lion’s share of September’s most expensive home sales. The Green Gables estate in the Bay Area, which consists of seven houses on 74 acres, was the most expensive home sale of September, bringing in $85 million. It’s followed by an Aspen, CO property that sold for […] The post September’s Most Expensive Home Sales Include Ellen DeGeneres’ Former Montecito Mansion appeared first on Redfin Real Estate News.| Redfin Real Estate News
Even though mortgage rates are sitting near their lowest level in a year, house hunters are spooked by stubbornly high home prices and jitters about a possible recession and the government shutdown.| Redfin Real Estate News
The typical home that sold in August went for nearly 4% under its asking price–the steepest discount for that month since 2019.| Redfin Real Estate News
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.| Redfin Real Estate News
Starter-home sales increased 3.8% year over year, rising for the 12th consecutive month to the highest August level in three years. In comparison, sales of mid-price homes fell 0.6% year over year in July, while high-price homes) fell 1.2%. Sales of mid- and high-price homes have declined year over year each month since February.| Redfin Real Estate News
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. 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 Real Estate News
The median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down more than $200 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.| Redfin Real Estate News
Four of last month’s most expensive home sales were in Southern California, five were in coastal Florida and one was on Martha’s Vineyard.| Redfin Real Estate News
More than $330 billion worth of listings have been sitting on the market for 60 days or longer. Rising inventory and slow homebuying demand is pushing up the total dollar amount of home listings, and will push down home-sale prices by the end of the year.| Redfin Real Estate News
1 in 7 deals fell through last month. The share was higher in much of Florida—home to 5 of the 10 metros with the highest cancellation rates.| Redfin Real Estate News
Mortgage rates are forecasted to stay elevated near 7%.| Redfin Real Estate News
Would-be buyers are sidelined by record-high housing costs and economic instability, allowing inventory to pile up.| Redfin Real Estate News
The jump in housing supply put downward pressure on prices, which grew at the slowest pace in nearly two years last month.| Redfin Real Estate News
Pending home sales posted their biggest decline since February during the four weeks ending June 30. The good news for prospective buyers: There are more new listings to choose from, and monthly housing payments are down nearly $100 from their April peak as mortgage rates decline.| Redfin Real Estate News
The median U.S. home price rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023. Prices continue to rise partly because there are still serious buyers searching for homes.| Redfin Real Estate News
Empty-nest baby boomers own 28% of the nation’s large homes, while millennials with kids own just 14%. Empty nesters take up a lot of large homes because affordability was better when they were young, and there’s no financial incentive to sell now.| Redfin Real Estate News
That's down from 21% in 2022 and over 40% before the pandemic homebuying boom. Fortunately, housing affordability is expected to improve in 2024.| Redfin Real Estate News
