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.
Read More »Home-Sale Prices Rise for First Time in Five Months
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.
Read More »Housing Market Remains Resilient as Listed, Closed Prices Rise
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.
Read More »Home Prices Remain Elevated, But Selling for $4,000 Less
As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.
Read More »Active Inventory Continues to Decline Nationwide
With nearly 26% fewer homes newly listed for sale compared to last year, active inventory slowed for the fourth month in a row, according to the Realtor.com Monthly Housing Trends Report for June.
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 »Housing Inventory Posted its Biggest Decline in More Than a Year
Across the U.S., there are nearly 40% fewer homes for sale compared to pre-pandemic norms, as new listings dropped an overall 23% from last June, according to Redfin’s Homebuyer Demand Index.
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 »Survey Examines Recent Homebuyer/Seller Sentiment
A new survey conducted by Clever Real Estate examined homebuyer and seller regrets about their recent experiences, including looks at post-purchase financial struggles and how many of those surveyed view now as a good time to engage with the housing market.
Read More »Homebuyers Leaving Their Hometowns in Search of Affordability
As many Americans are leaving their hometown in search of more affordable areas, elevated mortgage rates and a shortage of inventory continue to deter U.S. homebuyers, as overall home sales dropped 22% from a year earlier in April.
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