Month-over-month, pending home sales rose 4%, the biggest increase in over two years. A new report breaks down the latest, including the resurgence of bidding wars.
Read More »How Much Purchasing Power Have Homebuyers Lost YoY?
Mortgage rates hovering around the 7% mark are cutting into buyers’ budgets, according to a new report from Redfin. It found that a buyer on a $3,000 monthly budget can afford a home valued at $429,000, assuming a 7.4% mortgage. But how does this stack up when compared to last year?
Read More »Forty-Eight Percent of Homes Sold in April Under Contract Within Two Weeks
The number of homes that went under contract within two weeks rose 2% from March. While that jump may seem small, it’s notable because the share of homes selling in two weeks typically falls in April after peaking in March.
Read More »Growing Cities May Be First to Feel Recession
It’s no secret that the pandemic threw a wrench in the housing market upending traditional moving and migration patterns as those with the means fled crowded urban areas for the suburbs and beyond seeking less crowded and infected place with ...
Read More »Mortgage Rate Gains Putting Pressure on Pending-Sale Agreements
Redfin reports that nearly 60,000 home-purchase agreements fell apart in June, as mortgage rates steadily climbed toward the 6%-mark, thus compounding affordability issues.
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