Smaller homes in demand as affordability stymies buyers
Zillow research found that homes with the smallest footprints have seen a higher rate of price growth and an annual decline in inventory.
March 20, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Kamini Lane takes on top role at Coldwell BankerLane, previously brokerage president of Sotheby's Realty, steps into the role vacated by Ryan Gorman in December.March 20, 2023
- For homeowners, joy can trump ROI when choosing outdoor projectsIn a new report, the outdoor projects that rank highest on the "joy scale" tend to have lower recovery costs, suggesting that ROI isn't always a top concern.March 17, 2023
- Real posts net loss for 2022 but sees a turnaround comingDespite a challenging real estate market, CEO Tamir Poleg expects the company’s EBITDA to turn positive in the second half of 2023.March 16, 2023
- After a topsy-turvy week, mortgage rates dropIn the wake of turbulence in the banking sector, the 30-year fixed-rate mortgage fell to 6.6%, down from 6.73% a week ago.March 16, 2023
- Anywhere CEO sees opportunities, advantages of scaleRyan Schneider, leader of one of the largest real estate enterprises, believes the company will benefit from continued investments, even in a downturn.March 16, 2023
- Homeowners have $90K more home equity than pre-pandemicA CoreLogic report found that average home equity rose more than 7% in 2022 — a small gain relative to the big jump seen in 2021, but still above average.March 15, 2023
- Florida a rising MVP with #2 most valuable housing marketWith the value of its residential real estate surpassing $3.6 trillion, Florida edged out New York but trails California among markets with the top home values.March 15, 2023
- Homes are getting smaller — which could improve affordabilityNewly built homes continue to lose square footage. But agents see an upside for buyers seeking more affordable options.March 3, 2023
- How the real estate industry can better serve the growing millennial marketA recent panel discussion concluded that the industry, from lenders to agents, should take note: Millennials are a massive cohort with unique challenges.March 3, 2023
- More homes are hitting middle ageAs the housing stock ages, agents should educate themselves about the features and occasional pitfalls of older homes.March 3, 2023
- Mortgage rates climb, may hit 7% soonRates inched up again this week, adding to affordability challenges ahead of the spring shopping season.March 2, 2023
- Woulda, coulda, shoulda… the most common regrets of first-time sellersA Zillow survey found that incorrect pricing topped the list of seller regrets — underscoring the need for agents to help set clear expectations.March 1, 2023
- eXp has sluggish fourth quarter but posts record annual revenueThe Washington-based real estate giant missed revenue estimates in Q4 but increased agent count to more than 86,000.February 28, 2023
- Amazon employees get 'Better' option for home financingMortgage provider Better unveiled Equity Unlocker, which allows Amazon employees to pledge company stock toward a home purchase.February 28, 2023
- Values of Black-owned homes rose the fastest during the pandemicRelative to overall home values, Black home values fared well in recent years according to Zillow data. But the racial homeownership gap remains wide.February 25, 2023
- Home values have dropped from 2022 peak, opening doors for buyersA new Redfin report found the total value of U.S. homes has dropped $2.3 trillion since June 2022, with the biggest declines in the San Francisco Bay Area.February 24, 2023
- Higher mortgage rates could mean a 'nobody's market' this springMortgage interest rates climbed again this week, with the daily rate approach levels not seen since November.February 23, 2023
- eXp Realty named in sexual assault complaintThe complaint alleges that eXp Realty turned a “blind eye” to two agents who had a history of drugging and sexually assaulting women.Updated February 24, 2023
- Lower mortgage insurance premiums to reduce costs for first-time buyersThe government announced a plan to cut mortgage insurance rates by 0.3 percentage points, which could save eligible homeowners an average of $800 a year.February 22, 2023
