Home Sellers Are Cutting Prices at a Record Rate to Lure Skittish Buyers
The typical home that sold in August went for nearly 4% under its asking price—the steepest discount for that month since 2019 One of every six (16.7%) U.S. home sellers dropped their asking price in August, up from 15.9% a year earlier and the highest share for that month in records dating back to 2012. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. August saw the highest share for any time of year except the previous two months, when the portion...
Pending Home Sales Slide, But There Are Bright Spots: Buyers Have Bargaining Power, Starter-Home Sales Improving
Pending U.S. home sales fell 1% year over year as mortgage rates ticked up after nine straight weeks of declines. Some would-be buyers are hesitant due to economic uncertainty, including jitters about potential layoffs and the government shutdown. Pending U.S. home sales fell roughly 1% from a year earlier during the four weeks ending September 28, the biggest decline in nearly five months, according to a new report from Redfin, the real estate brokerage powered by Rocket. On a local level, pend...
Share of Mortgages With Rates Above 6% Climbs to 10-Year High as Americans Adapt to New Normal
Over half of mortgaged homeowners have a rate below 4%, down from nearly two-thirds in 2022 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, according to a new report from Redfin, the real estate brokerage powered by Rocket. 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. ...
Foreign Investment in U.S. Real Estate: A $56 Billion Rebound Story
Foreign buyers just dropped $56 billion on U.S. real estate in the twelve months ending March 2025—a 33.2% surge that marks the first meaningful recovery since the pandemic derailed international investment in residential real estate.[1]. After years of decline, international buyers are back, and they're paying record prices to get in. The numbers tell a recovery story that few saw coming. Foreign buyers purchased 78,100 properties from April 2024 through March 2025, representing a 44% jump fr...
Hispanic Heritage Month: Leveraging Your Roots in Real Estate
Hispanic Heritage Month is more than a celebration; it’s a reminder of the values, traditions, and resilience that define the Hispanic population. As Hispanic professionals, we bring unique strengths to every industry we touch, and real estate is no exception. Our sense of family, dedication to hard work, and commitment to community are assets that give us a competitive edge. According to a report from the National Association of Hispanic Real Estate Professionals, the Hispanic population is o...
Starter-Home Sales Up 4% as Demand for Higher-Priced Options Stumbles
Providence, RI recorded a 25% spike in starter-home sales, leading all major metros. San Antonio recorded the biggest drop (-10%). The typical U.S. starter home sold for a record $260,508 in August, rising 2.2% from a year earlier as sales continued to outpace those of higher-priced tiers. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. Mid- and high-price home prices grew 1.4% and 2.7% year over year, respectively, to near-record highs of $370,000 an...
America’s HomeLink: A New Kind of Real Estate Network
America’s HomeLink is a fresh start-up with a mission to blend real estate, community, and cause-driven storytelling. The platform introduces reality-style, community-facing TV shows featuring social influencers with millions of followers, all raising awareness and donations for children’s, veterans’, and animal charities. These feel-good stories extend beyond the screen, amplified at local events and through digital channels that connect directly with homeowners. Once homeowners join, the...
Real Consequences of the NAR Settlement: RCONS Episode 4 "Old Girls Network."
Professor Tanya Monestier sold her Rhode Island house in 2022 and got a front-row seat to the very practices the NAR settlement was supposed to eliminate. Her 132-page objection to the $418 million settlement, filed in federal court, pulls no punches: "The implementation of the settlement has been a disaster." She's not wrong. The settlement that took effect in August 2024 was designed to end two specific anticompetitive practices—steering and commission collusion—but over a year later, both...
Rick Caruso’s Former Estate Sells for $48 Million, the Most Expensive Home Sale in August
Four of last month’s most expensive sales were in coastal Florida A Beverly Hills estate previously owned by billionaire real estate magnate and 2022 Los Angeles mayoral candidate Rick Caruso was the most expensive home sale of August, fetching $48 million. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. It’s followed by a new-construction mansion in Greenwich, CT, which fetched $44 million. Also among last month’s most expensive sales: a coasta...