Invesment

Coronavirus and the Housing Market

This past week, the new coronavirus caused a big drop in financial markets, spurring the Federal Reserve to drop interest rates by half a percentage point and leaving many Redfin customers wondering about the impact an outbreak would have on the economy and the real estate market.

As a behavioral economist, I counsel people to avoid making rash decisions based on fear and uncertainty. Instead, make decisions based on your financial situation.

What’s going on with the housing market right now? 

Before the coronavirus concerns started in the United States, the housing market was strong, with our agents reporting

Read More

How To Buy A House With Bad Credit

Buying a house can be an exciting yet confusing process. It can also be frustrating when you are trying to buy a house with bad credit and don’t know where to turn for answers. Many people rent with the dream of going through the home buying process and purchasing their first home. But if you have bad credit you may think homeownership is out of reach.

 

Can You Buy A House With Bad Credit?

The answer is yes. But what does a bad credit score mean, and what are the types of home loans available to those with bad credit?

Read More

Housing Shortage Leads to Intense Competition Among Homebuyers

With more and more Redfin bids facing multiple offers, the mother of all bidding wars may be on the horizon

A majority of offers submitted by Redfin agents faced competition in January according to a survey of more than 500 Redfin agents across the nation. Competition is spiking hard and early in 2020 and agents are reporting a flood of buyers as home supply sits at its lowest point in seven years, leading to a severe housing shortage in many areas.

“Low mortgage rates have brought buyers back to the housing market, but a lack of listings means buyers

Read More

Climate Change Worries Nearly 75% of Americans When Buying or Selling a Home

An increase in natural disasters is especially concerning to young minorities in the South and Northeast.

A majority of homebuyers and sellers are concerned about climate change, according to a new survey conducted by Redfin.

Almost three-quarters of respondents (73%) said that an increase in the frequency or intensity of natural disasters at least somewhat factors into their decision about where and whether to buy or sell a home. Only 10% said it doesn’t impact their decision-making process at all.

Climate Change Concerns by Location

Of the 29 U.S. and Canadian destinations we surveyed for this report, Houston’s residents were

Read More

iBuyer Real Estate: Cities with the Highest iBuyer Market Share and Sales

iBuyers Purchased 1 in 100 Homes that Sold in the U.S. in 2019

The nation’s top iBuyers purchased 1 of every 100 homes that sold in 2019 across the more than 200 U.S. metro areas Redfin tracks, nearly doubling their 2018 market share of 0.6%. That’s based on a Redfin analysis of MLS and public records data on home purchases and sales made by the most well-known national iBuyers, including Opendoor, Zillow, Offerpad and RedfinNow.

The term “iBuyer” (short for instant buyer) is used to describe real estate companies that use technology and AI to make instant offers to home

Read More