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The Latest Breaking News from Redfin

Sacramento is No. 1 for homebuyers looking to leave bigger cities, analysis finds

SACRAMENTO, Calif. — Sacramento is the top destination for people looking to move out of larger cities, according to a new Redfin analysis.

Tribune News Service

Redfin Lays Off 13% Of Staff, Suggesting The Housing Market Will Get Worse Into 2023

With rising interest rates, there are growing concerns that the current housing market downturn may last through 2023, and a residential real estate brokerage is getting ahead of the curve by laying off 13% of its staff.

Benzinga

Seattle’s Redfin to cut workforce by at least 13%, end its house flipping initiative

SEATTLE — The cooling housing market is driving yet another round of layoffs at a Seattle-based company.

Tribune News Service

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Wow, Here's How Many Hours The Average American Must Work To Pay Rent

Benzinga

Best places to live when you can work from anywhere

In 2022, life began to feel somewhat “normal” again: Audiences are flocking to live shows, concerts and sporting events; airports bustle with travelers; kids are attending school. But one piece of your routine might still look quite different than the pre-pandemic era: Where you’re working.

Tribune News Service

How low mortgage rates led to today’s ‘seller’s strike’

The sharp rise in mortgage rates in 2022 has hampered housing affordability and led to fewer home sales. Aside from those obvious bits of fallout, the run-up in rates has also delivered a surprise: Many homeowners are choosing not to sell because they don’t want to give up the super-low…

Tribune News Service

Bay Area real estate agent claims Redfin fired her for reporting sexual harassment

A Bay Area real estate agent claims in a new lawsuit that real estate giant Redfin fired her for reporting that a photographer for the company sexually harassed her.

Tribune News Service

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The housing market is stuck

People expecting a big housing crash might not see it happen so fast.

Axios

As mortgage rates soared, here’s how much homebuyers lost in purchasing power

Homebuyers have lost six figures in buying power over the past year, thanks to soaring mortgage rates, according to new research.

Tribune News Service

With interest rates surging, what does a starter home look like in Southern California?

For decades, the single-family home has been Southern California's ultimate lure — a chance to live a life of sun and sand from the comfort of your very own property.

Los Angeles Times

Analyst Remains Bearish On Real Estate iBuyers: 'Fundamentals Are Going To Turn Worse Before They Get Better'

The National Association of Home Builders/Wells Fargo Housing Market Index fell three points in September to 46, a bearish reflection of current U.S. homebuilder sentiment.

Benzinga

How much will a house cost by 2030? Predictions and tips to start saving

Just 17 percent of Americans believe it’s a good time to buy a home, according to a recent survey from Fannie Mae. Between higher mortgage rates, still-high home prices and broader inflationary pressure, putting off buying a home might be the only option for some. What happens if you wait,…

Tribune News Service

5 tips to make the search for a new apartment easier

Finding a new place to rent can be challenging, and skyrocketing rents have made it especially hard this year

The Independent UK

Rents are starting to come down, but the trend may not hold

Rents are starting to come down after spiking to record levels this past summer, but experts are uncertain if the slowdown will continue

The Independent UK

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Benzinga

Dropping Home Sales Numbers May Mean The End Of Bidding Wars

The real estate market is churning again, and based on the latest home sales numbers from several sources, the end of private home bidding wars may be nearing its end.

Axios

Why rents are soaring pretty much everywhere in the U.S.

A recession wouldn't bring much relief for renters.

Axios

Remote workers pushed up incomes and home prices in these cities

Pandemic migration has reshaped many regions of the country.

Los Angeles Times

California exodus continues, with LA, San Francisco leading the way: 'Why are we here?'

LOS ANGELES — After living in the Bay Area for nearly seven years, Hari Raghavan and his wife decided to leave for the East Coast late last year.

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The Independent UK

LOCALIZE IT: Mortgage rates up, applications down across US

EDITORS/NEWS DIRECTORS:

Los Angeles Times

Here's what Southern California's housing market cooldown means for buyers, sellers

The Southern California housing market is finally slowing down after a two-year pandemic boom fueled in large part by record low borrowing costs.

The Independent UK

Housing market chills as mortgage rates, prices scare buyers

Rising mortgage rates have combined with already high home prices to discourage would-be buyers

StockNews.com

5 Real Estate Stocks to Sell Short Due to Higher Interest Rates

The demand for real estate has taken a hit amid rising interest rates and a faster-than-expected rise in mortgage rates. Higher home prices and the lack of listings have also affected the industry. Given this backdrop, fundamentally weak real estate stocks Redfin Corp. (RDFN), WeWork (WE), Alset EHome International (AEI),…

Axios

Homebuyers retake the upper hand in the cooling real estate market

This is a sign of how fast the housing market adjusted to the surge in mortgage rates that started in March.

Benzinga

Homebuyers Are Backing Out Of Sales At Record Levels: Report

Homebuyers are backing out of property purchase deals at a level not seen since the beginning of the COVID-19 pandemic, according to data from Redfin (NASDAQ: RDFN).

Benzinga

Housing Beat: Mortgage Rates Fall Again, Home Price Growth Cools, Roe V. Wade Influences Homebuyers

This week in the housing world, mortgage rates declined for the second consecutive week as home price growth slowed, the level of mortgage delinquencies remained low and the Roe v. Wade controversy permeated the homebuying process.

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