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Housing Market Update: Pending Home Sales Improve in January As More Buyers Return

Pending sales posted their smallest year-over-year decline in three months as mortgage rates ticked down. Early indicators of homebuyer demand, including tour requests and mortgage applications, are increasing from their low[...]
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A Record Share of Home Sellers Are Giving Concessions to Buyers

A Record Share of Home Sellers Are Giving Concessions to Buyers

Home sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter—the highest share of any three-month period in Redfin’s records, which date back to July 2020. That’s up from just over 30% in both the previous[...]
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Housing Market Update: Pending Sales Drop to Lowest Level Since at Least 2015

Housing Market Update: Pending Sales Drop to Lowest Level Since at Least 2015

The homes that are selling are going for about the same price as a year earlier, with nationwide prices up just 0.5% year over year–smaller than the 0.7% increase at the onset of the pandemic when the market reached a near standstill.[...]
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Rental Market Tracker: Rent Growth Slowed for Seventh Straight Month in December

The median U.S. asking rent rose 4.8% year over year to $1,979 in December—the smallest increase since July 2021—as persistently high rental costs, inflation and economic uncertainty continued to dampen rental demand. Rents grew[...]
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Housing Market Update: Home Prices Post Small Increase as Mortgage-Rate Drop Attracts Buyers

Housing Market Update: Home Prices Post Small Increase as Mortgage-Rate Drop Attracts Buyers

An increase in home searches and tours at the end of 2022 is starting to translate into purchases as mortgage rates fall. Mortgage applications are up 25% and the slowdown in pending sales is easing.  The median U.S. home-sale price[...]
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