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Housing Market Update: Sellers’ Time on Market Doubles From Spring as Buyers Wait for Prices and/or Rates to Come Down

Housing Market Update: Sellers’ Time on Market Doubles From Spring as Buyers Wait for Prices and/or Rates to Come Down

Home sales continue to decline and mortgage applications are at their lowest level in 25 years. U.S. housing market activity is continuing to slow down as mortgage rates sit at a 20-year high. Pending home sales and new listings both saw[...]
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Rental Market Tracker: Rents Are Growing Half as Fast as They Were Six Months Ago

Rental Market Tracker: Rents Are Growing Half as Fast as They Were Six Months Ago

The median U.S. asking rent rose 9% year over year in September to $2,002, the slowest growth since August 2021 and the first single-digit increase in a year. September was the fourth-consecutive month in which annual rent growth[...]
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Housing Market Update: Economic Woes Exacerbate Slowdown as Rates Reach 20-Year High

Housing Market Update: Economic Woes Exacerbate Slowdown as Rates Reach 20-Year High

Housing-market activity is plunging further this fall than it did over the summer as mortgage rates near 7% and the topsy-turvy economy deters would-be buyers and sellers. Price drops have reached a record high, and home sales and new[...]
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Square Footage Is Now Worth More in the Suburbs Than Cities

Square Footage Is Now Worth More in the Suburbs Than Cities

Space in suburban homes was worth more than space in urban homes in September for the first time since Redfin started tracking this data in 2018. That’s because pandemic-driven remote work continues to attract Americans to the suburbs[...]
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Home Sales, Listings Plunge Over 20% in September—Most on Record Aside From Pandemic Start

Home Sales, Listings Plunge Over 20% in September—Most on Record Aside From Pandemic Start

Home sales and listings in September both slumped the most on record with the exception of the early months of the pandemic as rapidly rising mortgage rates prompted both buyers and sellers to stay put. The number of homes sold dropped 25%[...]
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