“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.
Read More »‘Hot’ Spring Homebuying Season Doesn’t Live Up to Expectations
Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.
Read More »New Listings Reach Lowest Level of Any Early June on Record
The overall lack of new listings nationwide has pushed the total number of homes on the market down 5% year-over-year, reaching their lowest level of any early June on record, according to a new housing market update from Redfin.
Read More »Mortgage-Purchase Applications Up 3%
A sign of future activity, mortgage-purchase applications are up, although pending home sales are down 20% year-over-year.
Read More »Homebuying Demand Up Amid Fluctuating Mortgage Rates
With mortgage rates recently declining, demand has shown early indications of increasing, according to Redfin’s most recent Homebuyer Demand Index.
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