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Monthly payments for a starter home are unaffordable for median-income families in half of the 50 largest U.S. metros.
The typical homebuyer’s down payment was 18.6% of the purchase price in June, the highest level in over a decade
Redfin analysts theorize that pending sales for starter homes have strengthened due to easing mortgage rates
Redfin’s Homebuyer Demand Index — which measures requests for tours and other buying services — has risen 4% over the last week.
Higher-priced properties see largest price gains as investor purchases and market share rise
First American also reported house prices nationally are now 55% higher compared to pre-pandemic levels, while Redfin reported a 0.2% uptick in home prices.
