Interesting trends

According to Redfin, more than 80% of homeowners have mortgages with rates below 6%, and 52% have mortgages under 4%. However, an increasing number of homeowners are adjusting to the new normal of elevated mortgage rates, especially as the supply of new homes rises, said Chen Zhao, Redfin’s head of economics.

“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a...Interesting trends

According to Redfin, more than 80% of homeowners have mortgages with rates below 6%, and 52% have mortgages under 4%. However, an increasing number of homeowners are adjusting to the new normal of elevated mortgage rates, especially as the supply of new homes rises, said Chen Zhao, Redfin’s head of economics.

“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood. Those needs are starting to outweigh the financial benefit of clinging to a rock-bottom mortgage rate. As a result, more homes are hitting the market than we’ve seen in years, giving buyers a wider range of choices. More homeowners are deciding it’s worth moving even if it means giving up a lower mortgage rate,” Zhao said. Show more

Zombie foreclosures are something which I had touch based even in the past but some recent updates are very interesting to learn.

- Zombie foreclosure levels rose in 23 states quarter-over-quarter but only modestly.

- Colorado and Washington posted the sharpest annual increases, more than doubling their totals from a year ago.

- Overall vacancy rates remained lowest in the Northeast states like New Hampshire, Vermont and New Jersey.

- Large...Zombie foreclosures are something which I had touch based even in the past but some recent updates are very interesting to learn.

- Zombie foreclosure levels rose in 23 states quarter-over-quarter but only modestly.

- Colorado and Washington posted the sharpest annual increases, more than doubling their totals from a year ago.

- Overall vacancy rates remained lowest in the Northeast states like New Hampshire, Vermont and New Jersey.

- Large metro areas generally fared better than the national average.

- Investor holdings proved more vulnerable to vacancy.

- Los Angeles' 91001 zip code led the nation with more than 80% of its foreclosure pipeline abandoned.

"As a whole it appears that the nation's buyers are quickly filling homes that become available," ATTOM Chief Executive Officer Rob Barber said. Show more

More people are moving into than out of disaster prone places.

As per Redfin, the most flood-prone U.S. counties saw 384,000 more people move in than out in 2021 and 2022--a 103% increase from the prior two years, when 189,000 more people moved in than out.

"It's human nature to focus on current...

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