Why are luxury home prices rising?

Redfin data shows luxury home prices are up 4.7% year over year and are rising three times faster than non-luxury home prices. Affluent buyers have been better positioned to navigate high housing costs and economic uncertainty, helping keep demand for luxury homes strong.

Tampa and Miami are seeing some of the fastest luxury price growth, while luxury home sales are rising fastest in San Francisco as the Bay Area's AI boom fuels demand.

What do you think is driving demand for luxury homes right now despite high housing costs and economic uncertainty?

redfin.com
u/RedfinJess — 6 days ago
▲ 31 r/housingcrisis+1 crossposts

Both parties believe the U.S. should have housing affordability policies

A recent Redfin news survey found that most Americans support government policies that would help make housing more affordable. 76% of U.S. residents believe there should be caps on rent increases, 75% on initiatives for building homes for low-income families, and 74% on programs for down payment assistance.

While Democrats are generally more likely than Republicans to support these housing programs, Republicans aren't far behind. Regardless of what party you align with, do you think there should be housing programs in place? Do you think programs will be put in place to actually make housing more affordable?

u/RedfinJess — 10 days ago
▲ 20 r/USHousingMarket+2 crossposts

Redfin housing news: residents are leaving flood prone areas

According to a recent Redfin report, high-flood-risk@ counties lost a net 63,357 residents in 2025, nearly double the outflow from the year before. Meanwhile, low-flood-risk counties gained nearly 70,000 residents, their biggest increase since 2018.

Growing climate risks, rising insurance premiums, and higher homeownership costs are some of the factors driving the shift.

Have flood risks, insurance costs, or other climate-related concerns affected where you're willing to buy a home?

u/RedfinJess — 11 days ago

46% of home sellers offered concessions in May, a record high for the month

A concession is something a seller offers to help reduce a buyer's costs, such as covering closing costs, paying for repairs, or helping buy down a mortgage rate.

According to a recent Redfin report, 46% of home sellers offered concessions in May, the highest share on record for that month. With more sellers than buyers in today's market, many homeowners are offering concessions to help attract buyers and get deals done.

The report also found that about 1 in 7 homes sold with both a seller concession and a price cut.

Are sellers in your area becoming more flexible on price and negotiations?

u/RedfinJess — 14 days ago

Why are housing payments so high right now?

According to a recent Redfin news report, the typical housing payment just hit a 1-year high at $2,647 per month. The main reason is that both home prices and mortgage rates remained elevated. These costs, along with economic uncertainty stemming from the conflict in the Middle East, are pricing out many would-be homebuyers and are causing some prospective sellers to back off.

Given this week's eventful Fed announcement, do you think housing payments will rise even higher? When do you think affordability will meaningfully improve?

u/RedfinJess — 17 days ago
▲ 1 r/USHousingMarket+1 crossposts

SpaceX Employees Could Buy 2 in 5 San Antonio Homes With Their IPO Windfall

According to a new Redfin news report, SpaceX’s IPO could create enough wealth for employees to buy about 40% of all the homes in San Antonio, TX. This IPO could be the biggest in history and while employees will spend this windfall on several things, the hypothetical calculations show SpaceX employees could buy 2 in 5 San Antonio homes.

Big time IPOs, signing bonuses, and big salaries have meaningful impact on local housing markets as seen in San Francisco where home prices are growing fast due to the AI boom.

Will home prices in San Antonio and other areas near SpaceX’s Starbase headquarters increase?
Do you think more tech companies will follow and move to Texas?

u/RedfinJess — 24 days ago

Is your city a buyer's market right now?

According to a Redfin report, there are now 47% more sellers than buyers across the country, with homes for sale at their highest level in six years.

35 of the 50 largest U.S. metro areas are now considered buyer's markets. The biggest examples are in the Sun Belt, where cities like Nashville and Miami have more than twice as many sellers as buyers.

Does your local market feel like a buyer's market or a seller's market right now?

u/RedfinJess — 27 days ago

U.S. housing market update: Buyers and sellers are both pulling back

According to a new Redfin report, the U.S. housing market is in a bit of a standoff right now.

New listings of homes for sale fell 1.3% from the week before, one of the biggest declines of the year. Pending home sales also slipped 0.2%, suggesting both buyers and sellers are stepping back from the market.

Between mortgage rates rising to 6.53% and home sale prices climbing 2.3% year over year, affordability remains a challenge for many buyers. Economic uncertainty may also be playing a role, with consumer confidence recently hitting a record low.

What are you seeing in your local housing market right now?

u/RedfinJess — 1 month ago
▲ 1 r/homeownerstips+1 crossposts

Tips for selling a house in 2026?

Thinking about selling this year? Redfin Chief Economist Daryl Fairweather says sellers need a clear strategy in today's market. Buyers have more leverage, and homes are taking longer to sell than they did during the pandemic. As Fairweather puts it, "Home sellers looking to succeed today need to price accurately, be flexible, and do their best to make their home stand out."

Redfin's latest guide on selling a home in 2026 highlights a few things sellers should keep in mind:

Price realistically from the start. More than 35% of sellers cut their asking price in early 2026, showing that buyers have more leverage in many markets.

Make your home stand out. With homes sitting on the market longer, small improvements like fresh paint, decluttering, and better lighting can help attract more buyers.

Be patient and flexible. Homes are taking longer to sell than they did during the pandemic (roughly 47-49 days to go under contract versus 27 days in 2022), so sellers should be prepared for a slower process.

Have a negotiation strategy. Buyers are often asking for concessions, repairs, or credits, making flexibility more important than it was a few years ago.

Know your local market. Pricing trends, buyer demand, and neighborhood dynamics can all influence your selling strategy.

What other advice would you give to someone listing their home in today's market?

u/RedfinJess — 1 month ago