Tag Archives: New Listings

While mortgage-purchase applications fell to a 28-year low in August, the median U.S. home-sale price is up nearly 5% year-over-year. Due to a severe lack of inventory, high housing costs continue to dampen homebuying demand, according to a new report from Redfin.

Home price declines are causing Americans to lose money when selling their homes, according to a new report from Redfin, which showed that the typical homeowner in San Francisco who took a loss while selling sold their home for roughly $100,000 less than they bought it for.

HouseCanary's August Market Pulse report revealed depressed market activity has resulted in net new listing volume trailing behind overall contract volume, as total inventory remains down nearly 13% compared to the same time in 2022.

While pending home sales rose a meaningful 0.7% in July, overall, this number is only marginally better than its low point hit in March earlier this year.

Annual single-family rent growth eased for the 14th consecutive month in June, according to a new report from CoreLogic, remaining near the pre-pandemic growth rate, while growth for attached homes is projected to continue to exceed their detached counterparts.

Home prices were up 3% year-over-year, despite stunted demand due to a shortage of homes, as inventory nationwide posts its biggest slide in 18 months.

June is typically the biggest month for home sales, according to the latest RE/MAX National Housing Report, with month-over-month sales rising 5.4% from May. Meanwhile, the average close-to-list price ratio was 100%, meaning homes sold for their average asking price.

Even though low inventory caused by the lock-in effect is causing a crunch for home seekers, prices continue to rise and have hit a new record high, eclipsing the previous peak set one year ago.

Today, a monthly budget of $3,000 can afford a home valued at $450,000—a far cry from the $510,000 home it could have purchased a year ago.

While both listed and closed prices experienced positive year-over-year growth in June, experts predict that market activity will remain at relatively low levels heading into Q3 2023, with the Federal Reserve continuing to increase rates at a slow pace.