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Housing Market Update: Homes Linger on the Market as Buyers Take Their Time

Housing Market Update: Homes Linger on the Market as Buyers Take Their Time

The supply of homes for sale posted a record year-over-year increase this week as homes linger on the market. But some buyers are making their way back, with Redfin’s Homebuyer Demand Index showing an uptick in early-stage demand. The[...]
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Housing Market Update: Sales Are Slow to Kick Off New Year, But More Buyers Start Searching

Housing Market Update: Sales Are Slow to Kick Off New Year, But More Buyers Start Searching

The typical home is taking longer to sell than any period since April 2020 and pending sales are at a record low, but online home searches and tour requests are ticking up. Those early signs of demand could translate into sales–especially[...]
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Housing Market Update: Typical Monthly Payment Is Nearly $300 Less Than October Peak, Bringing Some Homebuyers Back

Housing Market Update: Typical Monthly Payment Is Nearly $300 Less Than October Peak, Bringing Some Homebuyers Back

The typical U.S. home sold for roughly $352,000 during the four weeks ending December 18, down 10% from a peak of $391,000 in June and up just 1% year over year. Average mortgage rates declined for the sixth straight week to 6.27%, cutting[...]
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Share of Homes Bought With All Cash Hits Highest Level Since 2014

High mortgage rates are motivating affluent buyers to avoid loans and pay in cash. FHA loans are also making a comeback as a slowdown in homebuyer competition makes winning a home easier for bidders with lower down payments.Roughly[...]
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Housing Market Update: Early-Stage Demand Up Notably From October Trough

Housing Market Update: Early-Stage Demand Up Notably From October Trough

Mortgage-purchase applications and Redfin’s Homebuyer Demand Index are both up by double digits since bottoming out earlier this fall, but demand is still much lower than it was a year ago. This week’s positive inflation news could[...]
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