News

Housing Market Update: Price Growth Starts the Year Strong But Harsh Weather Freezes Out Some Would-Be Homebuyers

Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6% range, down from 8% a few months ago. The median[...]
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Housing Market Update: Homebuying Demand Shows Early Signs of Rebound Following Weeks of Declining Mortgage Rates and Increasing Listings

Housing Market Update: Homebuying Demand Shows Early Signs of Rebound Following Weeks of Declining Mortgage Rates and Increasing Listings

Declining mortgage rates and a double-digit increase in new listings are bringing house hunters off the sidelines, with pending sales posting their smallest decline in about 20 months. We’re taking a break from analysis this week,[...]
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The Lock-in Effect: 89% of People With Mortgages Have an Interest Rate Below 6%, Down From a Record 93% in 2022

Most homeowners with mortgages have a rate below today’s average, prompting many to stay put. But the share of homeowners with relatively low rates has fallen from its record high because some have given up on waiting to move until rates[...]
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Housing Market Update: The New Year Brings an Uptick in Early-Stage Demand As Mortgage Payments Fall and More Homes Hit the Market

As mortgage rates hold steady in the 6% range and new listings tick up, mortgage-purchase applications and Redfin home tours are rising. Redfin agents report that as the new year kicks off, more sellers are listing and more buyers are[...]
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Housing Market Update: Homebuyers’ Monthly Payments Drop to Lowest Level in Nearly a Year, Bringing Back Some House Hunters

The median U.S. housing payment is down nearly $400 from its October peak, enticing some sidelined buyers to get back in the game. Redfin’s Demand Index, which measures early-stage demand, is up 10% from a month ago.The median U.S.[...]
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