Analysis and Data
Popular migration areas such as Phoenix, Atlanta, Tampa, and Miami have the highest inflation rates in the country.
June decreased to 0.81% from May's 0.85%.
The increase to nearly $60 billion breaks a three-year-long streak of decline.
Confidence, sales and HMI points all plummeted during the month of July.
U.S. homes came down 0.7% from its record-breaking peak in June.
Redfin found that a record share of homebuyers are relocating as high prices and mortgage rates make affordable areas more attractive.
Americans who have never owned a home believe 20% down payments are required.
High mortgage rates are keeping homebuyers reluctant, leading to declining home sales and a build-up of supply.
30-year fixed mortgage moves up to 5.51%
Single-family home prices increased at the annualized rate of 19.4% in the second quarter of 2022.