Tag Archives: Final list price

While a slight increase in new listings offers potential buyers more housing inventory to choose from, Redfin has found that many are backing out of the market, as mortgage rates sit near levels last seen two decades ago.

Home purchases fell through at a rate of 15.7% in August, a number which is up 14.3% year-over-year and the highest number recorded since October 2022.

As mortgage rates remain elevated, a new market report from Redfin revealed the typical homebuyer’s monthly payment is now at a record high of $2,666, representing a near 9% year-over-year change as housing costs continue to rise nationwide.