Consistent home price appreciation is touted as the main benefit of homeownership; however, runaway home price growth over the past five years has homeowners feeling locked into a financial prison. According to Redfin’s latest market study, 38 percent of 3,000 homeowners said they couldn’t afford their home if they were to buy it today. As a result, homeowners are staying in place much longer — 59 percent said they’ve been in their home for at least 10 years and 21 percent have been in their home for at least five.
Source: Inman News
38% of homeowners couldn’t afford their home in today’s market
Published in Elijah de la Campa, homebuyers, homeownership, homesellers, Markets & Economy, median home price growth, mortgage rates, Property Portfolio, Redfin and Select
More from Elijah de la CampaMore posts in Elijah de la Campa »
- Homes are sitting longer and not just because of mortgage rates
- Buying vs. renting: The income gap is widening, Redfin says
- Renting becomes sign of wealth as many opt against homebuying
- Low-risk homes appreciate as climate concerns shift the market
- US housing turnover rate hits 30-year low as lock-in effect lingers
More from homebuyersMore posts in homebuyers »
- Delistings and discounts jump as holiday season approaches
- Zillow Flex class-action complaint now includes RICO allegations
- October brought the strongest buyer’s market in 12 years: Redfin
- Fall has been ‘sneaky good’ for buyers, but the ‘warm-up is not guaranteed to last’
- Homebuying off to strongest November start since 2022
More from homeownershipMore posts in homeownership »
- Jason Oppenheim: Private listings could take real estate ‘back to the Dark Ages’
- Kevin Brown shares his plans as NAR’s new president (EXCLUSIVE)
- 53% of US homes lost value from 2024 — but it’s not a crash
- ‘He didn’t even say he was sorry’: Brooklyn investor gets prison time for 12-year deed fraud scheme
- What is a 50-year mortgage? The pros and cons of Trump’s proposal
More from homesellersMore posts in homesellers »
- October brought the strongest buyer’s market in 12 years: Redfin
- Fall has been ‘sneaky good’ for buyers, but the ‘warm-up is not guaranteed to last’
- 53% of US homes lost value from 2024 — but it’s not a crash
- Share of first-time homebuyers falls to lowest point ever
- Commissions held up in Year 1. Would a seller’s shift upend them?
More from Markets & EconomyMore posts in Markets & Economy »
- Dual licensing is on the rise. Is it the right move for your business?
- Change strategy as the market shifts to win the listings long game
- Shutdown blip, or worrying trend? Agent pipelines thin in November
- Homebuyers came out in force last week, and rates are trending down
- October was another slow month for pending home sales
More from median home price growthMore posts in median home price growth »
More from mortgage ratesMore posts in mortgage rates »
- Redfin on 2026: Affordability improves, sales rise only slightly
- Shutdown blip, or worrying trend? Agent pipelines thin in November
- Homebuyers came out in force last week, and rates are trending down
- October was another slow month for pending home sales
- Delistings and discounts jump as holiday season approaches
More from Property PortfolioMore posts in Property Portfolio »
More from RedfinMore posts in Redfin »
- Redfin on 2026: Affordability improves, sales rise only slightly
- Bayview merger positions Guild Mortgage for refinancing boom
- Zillow reverses course and removes climate data from listings
- Delistings and discounts jump as holiday season approaches
- The IDX lie agents still believe: 5 common misconceptions about real estate websites
More from SelectMore posts in Select »
- This team is jumping on the private listing platform trend (EXCLUSIVE)
- Redfin on 2026: Affordability improves, sales rise only slightly
- Dual licensing is on the rise. Is it the right move for your business?
- Future-proof your digital footprint for 2026 (and beyond)
- Change strategy as the market shifts to win the listings long game
Be First to Comment