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SEATTLE, April 21, 2021 /PRNewswire/ (NASDAQ: RDFN) Sales of luxury homes in the U.S. rose 41.6% year over year in the first quarter of 2021, far outpacing sales growth in every other segment of the housing market, according to a new
redfin.com), the technology-powered real estate brokerage. By comparison, sales of affordable homes increased 7% and sales of mid-priced homes climbed 5.9%.
This is according to a Redfin analysis that divided all U.S. residential properties into five price tiers luxury, expensive, mid-priced, affordable and most affordable based on Redfin Estimates of the homes market values.
Sales growth has historically been similar across price tiers, but has diverged as the coronavirus pandemic has exacerbated economic inequality. Affluent Americans with the flexibility to work from anywhere are taking advantage of low mortgage rates and buying up high-end houses particularly in popular vacation destinations which is
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A few years ago, signing a stack of papers at the mortgage closing table was expected – there was no other option. But now, a whole new world of possibilities has opened up as mortgage tech continues to advance and a younger generation of home buyers enters the housing market for the first time.
“Alexa, get me a mortgage,” was nothing but a dream several years ago. Now that dream may be becoming a reality as mortgage lenders turn their eye on mortgage technology and the sky is the limit.
The mortgage industry is ripe with fresh ideas and old systems that need to be updated to fit today’s times, from front-end technology to origination tech to finding ways to innovate servicing, every sector is on the precipice of change, and 2021 could be the year that finally makes the switch.
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