News

Housing Market Update: 9% Increase in Pending Home Sales is Slowest Growth Since June 2020

Housing Market Update: 9% Increase in Pending Home Sales is Slowest Growth Since June 2020

Pending home sales rose 9%, the slowest growth since June 2020, while the actual number of pending sales fell to the lowest level since April 2021. More home sellers have started slashing their prices—another sign of softening seasonal[...]
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Demand for Vacation Homes Fell for Second Consecutive Month in July

Demand for Vacation Homes Fell for Second Consecutive Month in July

Demand for second homes fell 21% year over year in July, the second consecutive month of annual declines in mortgage-purchase locks. This followed 13 months of surging activity in second-home purchases.Demand for primary home[...]
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Homebuyer Bidding-War Rate Drops to Lowest Level Since January

Homebuyer Bidding-War Rate Drops to Lowest Level Since January

In July, 60.1% of home offers written by Redfin agents faced competition, down from a revised rate of 66.5% in June and a pandemic peak of 74.1% in April. While July’s bidding-war rate was the lowest since January, it was still higher than[...]
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Housing Market Update: Median Home Price Up 16% From 2020

Housing Market Update: Median Home Price Up 16% From 2020

Although the share of home sellers dropping their asking price each week continues to increase, so does the median home sale price, which was up 16% from a year ago. Pending sales are declining seasonally but are still up 10% from a year ago.[...]
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Housing Market Update: Balance is Slowly Returning as Homebuying Demand Moderates

Housing Market Update: Balance is Slowly Returning as Homebuying Demand Moderates

Home sellers are increasingly realizing that the housing market is no longer heating up. The share of homes for sale with a price drop rose for the fifteenth consecutive week to 4.9%, a level last seen in 2019. Buyers may also be starting to[...]
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