More home sellers are cutting their asking price, suggesting sale-price growth could soften in the coming months. But this week, the median... A new Redfin report showed that 6.4% of homes listed for sale during the four-week period ending May 26 included a price cut. This trend indicates a potential shift in the real estate market, with sellers adjusting their expectations to attract buyers.
According to recent statistics, one in six (16.6%) U.S. renters stayed in their homes for 10 years or more in 2022, up from 13.9% a decade earlier. This data suggests a shift towards long-term renting as housing costs continue to rise, making homeownership less accessible for many individuals. U.S. renters are less likely to move than they were a decade ago, as soaring housing costs have priced many out of homeownership.
A Redfin report released this week highlighted the impact of LGBTQ+ protections on housing costs, revealing that homebuyers in states with such laws face significantly higher expenses. This disparity sheds light on the challenges faced by LGBTQ+ individuals in accessing affordable housing in certain areas. Detroit and Rochester were identified as the most affordable metros in states with laws protecting LGBTQ+ people from housing discrimination.