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Housing Market Update: Demand Declines Ease as Mortgage Rates Steady Around 7%

Housing Market Update: Demand Declines Ease as Mortgage Rates Steady Around 7%

One-third fewer homes went under contract in October than last year, the largest decline since at least 2015, with several pandemic boomtowns including Las Vegas, Miami and Phoenix posting declines of around 50%. Nationwide, a record[...]
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Housing Market Update: Annual Home Price Growth Slows to 3%

Housing Market Update: Annual Home Price Growth Slows to 3%

Inflation has begun to slow, which is already helping bring daily mortgage rates down. However, a longer trend of lower inflation is needed for sustained rate relief. Home-sale prices rose 3.2% year over year during the four-week period[...]
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29% of Homes for Sale in Third Quarter Were New Construction—a Record High

29% of Homes for Sale in Third Quarter Were New Construction—a Record High

Twenty-nine percent of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any third quarter on record. That’s up from 25% in the third quarter of 2021 and 18% in the third quarter of[...]
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Housing Market Update: Pending Home Sales Fall 35%, Largest Drop in at Least Seven Years

Housing Market Update: Pending Home Sales Fall 35%, Largest Drop in at Least Seven Years

U.S. pending home sales fell 35% year over year during the four weeks ending October 23. That represents the largest annual decline and the fewest homes under contract in any October since at least 2015, when Redfin’s weekly housing[...]
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Redfin Survey: Housing Affordability Is On Voters’ Minds As They Head to the Polls

Redfin Survey: Housing Affordability Is On Voters’ Minds As They Head to the Polls

High mortgage rates, persistently high home prices, inflation, considering crime and LGBTQ protections in deciding where to live: Those are some of the housing-related issues on Americans’ minds as they head to the polls for 2022’s[...]
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