One-Third of U.S. Home Sellers Give Concessions to Buyers

Based on new data from Redfin, U.S. home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, 2023. That's about the same as one year earlier, but up from 27.6% from two years ago.

Thirty One Percent of all U.S. Home Sales Are New Construction in Q3

Based on new research by Redfin's data journalist Lily Katz, nationwide, 30.6% of U.S. single-family homes for sale in the third quarter were new construction. That's the highest share of any third quarter on record and up from 28.9% one year earlier and 25% two years earlier.

Zombie Properties in U.S. Increase 15.3 Percent Annually in Late 2023

According to ATTOM's newly released fourth-quarter 2023 Vacant Property and Zombie Foreclosure Report, almost 1.3 million (1,294,505) residential properties in the United States are vacant.

Driven by High Rates, U.S. Buyers Must Earn $115,000 to Buy a Typical Home in 2023

According to Redfin, a homebuyer must earn $114,627 to afford the median-priced U.S. home, up 15% ($15,285) from a year ago and up more than 50% since the start of the pandemic. That's the highest annual income necessary to afford a home on record.

Louisville Property News

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