Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the slowest pace since August 2023. Ten of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Tampa (-1.6%). U.S. home prices rose 0.6% from a month earlier in January on a seasonally adjusted basis, a tick faster than the 0.5% growth experienced each of the three months prior. The last month that home prices grew at a quicker pace was November 2023 (0.7%).  This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. It’s …

Chart of the Month — February 2025 Overview By 2050, over 1 million homes in Los Angeles, San Diego, and San Francisco with low flood risk will see their flood risk rise higher than their fire risk. Flood risk increases in areas recently burned by wildfire. Even without assuming worst-case climate scenarios, homes with very low flood risk will have risk increase by 40 points or more by 2050. Risks from natural hazards can be interdependent. The fires in Los Angeles this January followed two years of wet winters which encouraged the vegetation growth that became wildfire fuel. Now, the metro’s burned areas lack the vegetation that can absorb water, making them more vulnerable to flood. This cycle is one that repeats itself across California, but each area of the state faces a different level of risk. And that risk is not trivial. In Los Angeles, San Diego, and San …

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in January, 2025.  The all items index was up 3% for the 12 months ending in January.  The index for shelter rose 0.4% in January, accounting for nearly 30% of the monthly all items increase. BLS.gov Click here to read the full release at the Bureau of Labor Statistics.   The post Inflation Up 3% Year-Over-Year appeared first on Real Estate Investing Today.

Last week we saw the most recent GDP numbers, but how do America’s richest and poorest states stack up to G7 countries when it comes to per capita GDP?  Today’s graphic from the Visual Capitalist does just that by looking at the per capita GDP of these states and compares when with actual G7 countries.  As always, stay safe and have a Happy Friday!!! “These massive gaps in output could be surprising for those not paying attention. The U.S. economy has surged since the pandemic, with its GDP per capita increasing by $20,000 between 2020 and 2024—a growth none of the other G7 countries have matched, even when going all the way back to 2010.” Hat tap to the Visual Capitalist.   The post U.S. States vs. G7 Countries by GDP per Capita appeared first on Real Estate Investing Today.

Rental information site Zumper recently released their latest monthly National Rent Report for January, 2025.  According to their data, median rent for 1-bedroom apartments was $1534 (down 0.3%) and $1,907 (up .01%) for two-bedrooms. Be sure to check out their list of the top 100 metro areas. Click here to read the full report at Zumper.   The post Zumper’s National Rent Report for January ’25 appeared first on Real Estate Investing Today.

Housing supply rose to the highest level since 2020 in January, but housing demand fell to the lowest level since 2020 as mortgage rates hit an eight-month high. Sellers are making moves because they’re tired of waiting for mortgage rates to fall, but buyers are skittish amid economic uncertainty and rising home prices, which are up 4% from last year. The typical home that sold sat on the market for 56 days—the longest of any January since 2020. Homebuyers have the most options since 2020, but few are biting because rising housing costs have made monthly payments tough to swallow. Pending home sales in January fell to the lowest level on record aside from the start of the pandemic. They dropped 4.2% month over month—the largest decline on a seasonally adjusted basis since August 2023—and 6.3% year over year. Redfin’s records date back to 2012 unless otherwise noted. Meanwhile, active …

Gen Z Homeownership is Highest in the Midwest for 2024  Gen Z accounted for 13% of home purchase applications.  Midwest markets had a higher share of Gen Z homebuyers in 2024.  Many Gen Z homebuyers are single, but about 45% of the applicants had co-applicants in 2024.  The unprecedented rise in home prices and elevated mortgage rates that have dominated the market since 2021 have significantly impacted housing affordability, particularly for younger buyers.   Despite these challenges, Gen Z is managing to enter the housing market. According to the CoreLogic Loan Application Database, this generation’s share of home-purchase applications accounted for 13% of total applications in 2024, a three-percentage point increase from 2023.1 Their presence in the market is expected to grow in the coming years.  Where Can Gen Z Buy a Home?  Gen Z represents a higher proportion of homebuyers in Midwestern markets but a lower proportion in more expensive …

Once again the Tax Foundation has published their annual list of sales taxes in each state.  Sales taxes are a form of taxation that truly affects every person – it’s the classic consumption tax.  It is also the one politicians often reach for first to ratchet-up to fund their next project du jour. That being said, the folks over at the Tax Foundation recently released their annual list showing the combined sales tax rates (state & local where applicable) for each state.  The five states with the highest average combined state and local sales tax rates are Louisiana (10.12%), Tennessee (9.56%), Arkansas (9.46%), Washington (9.43%), and Alabama (9.43%).  Be sure to look at their entire list to see how previous years’ data compares to 2025. !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}(); Click here to read the full report at the Tax Foundation.   The post How High …

What a fantastic way to kick off the year! Redfin is excited to welcome over 140 talented agents who are ready to elevate their businesses with Redfin Next, and seize all of the opportunities this year will bring. Let’s give a warm welcome to our January Newfins—we can’t wait to see all you accomplish this year! Redfin agent Tamara Mattox-Kabat Among the new faces joining us is Redfin Premier agent Tamara Mattox-Kabat. She’s joining our Denver team with more than 16 years in the real estate industry, including time with Keller Williams, Compass and Zillow. With over $80 million in sales and a strong leadership background, Tamara brings a wealth of expertise, integrity, and positivity to every transaction. “The opportunity to build a team, collaborate with other top agents, and receive support from seasoned managers is so valuable. Redfin’s business model is unique because it covers most traditional expenses, unmatched …