Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.

Downtown Miami’s residential real estate market is making a full recovery as area neighborhoods continue to see rapid development, according to a report from the Miami Downtown Development Authority (Miami DDA).

“Fewer homes are selling because of a lack of supply, while demand remains strong.” — Redfin chief economist Daryl Fairweather

Homebuyers’ interest in moving to a new metro area remains elevated above pre-pandemic levels as remote work becomes the new normal. In November, Miami was the most popular relocation destination of any major U.S. metro for the fourth straight month, according to a new report from Redfin.

As more money is being spent on real estate than ever before, the booming market is on pace to shatter records this year, according to a recent CoreLogic report.

Investors across the country are looking to cash in on skyrocketing house prices and rents, putting them in competition with new buyers trying to work their way to homeownership. Real estate investors bought a record 18% of the homes sold in the third quarter, according to a new Redfin report.

Home prices in eight Florida metro areas were significantly higher than the average price in the rest of the country, according to the Federal Housing Finance Agency House Price Index (FHFA HPI).