Tag Archives: Homes

I’m the chief economist of Redfin. 5 things to know about the housing market now | MarketWatch

Predictions on home prices, mortgage rates and more

By Alisa Wolfson, Updated: May 31, 2022 at 10:23 a.m. ET

Redfin chief economist Daryl Fairweather shares her thoughts and predictions on the housing market.

Peak home-buying season is in full swing, and many aspiring buyers are wondering: What should I know about the housing market if I want to buy? After all, interest rates have been rising, with some pros saying that trend will continue (see the lowest mortgage rates you can qualify for here); home prices keep climbing; and there aren’t enough houses on the market to meet buyers’ demand.

So we asked Daryl Fairweather — Redfin’s chief economist, who also worked at the Boston Fed studying why homeowners enter foreclosure — to share her projections and thoughts for what buyers and sellers can expect in the coming months.

There are early signs that the market, in some places, is cooling a bitFairweather says we’re seeing early signs that the housing market is starting to cool, at least in pricey coastal metros. “Buyers in markets like Los Angeles, San Francisco, Boston and Seattle who have lost out on several bidding wars may find they’re facing less competition from other buyers than they were a month or two ago,” says Fairweather.

Source: I’m the chief economist of Redfin. 5 things to know about the housing market now – MarketWatch

How to navigate homebuying this spring as competition surges

By Michelle Fox, Published Sat, Apr 10 202110:26 AM EDT

Prospective buyers visit an open house for sale in Alexandria, Virginia.
Jonathan Ernst | Reuters

When pandemic life began to feel too tight inside the one-bedroom apartment Taryn Orellana shared with her husband, Antonio, she knew they had to move.

In October, the couple decided to buy their first home in Lakewood, Calif. It was harder than they imagined.

“There were periods of desperation, where we would make offers on houses and we weren’t even sure if this one was ‘the one,’” said 37-year-old Orellana, a nurse practitioner.

Source: How to navigate homebuying this spring as competition surges