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Tag Archives: Redfin

Housing Demand Stays Strong Despite Drop in Inventory

More interesting, Redfin said, was the shift in supply and demand dynamics: Even as new listings plunged 9.3 percent—nearly triple the average July-to-August decline—numbers of customers touring homes and making offers rose, demonstrating buyers aren't backing off.

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Power Shift Could Result in Home Sales Spike

forecast

For July, Redfin recorded a 0.3 percent monthly decline in the median sales price of homes sold in the major metros the company tracks, marking the first time in five months that price growth was essentially flat.

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Market Changes Challenge Home Buyers, Sellers

As the housing recovery downshifts from last year's pace, the latest survey of real estate agents by national brokerage Redfin finds homebuyers and sellers are having trouble getting on the same page with each other and with the new shape of the market.

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Home Flippers See Impressive Gains in 2013

Home flippers reported more gains in 2013 than in any year on record, according to national real estate brokerage Redfin. The average home flipped last year was sold for $90,200 more than it was purchased, and in 11 of the 30 markets Redfin analyzed, flippers received gains of more than $100,000 per house.

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May Inventory Up; Home Sales Down

The housing market took an unexpected dip in May, with home sales dropping year-over-year despite a surge in new listings. A report published by Redfin's Research Center indicated that home inventory was up 9.1 percent in May. That number represents the highest number of new listings to come onto the market in the last four years.

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Fast Home Sales in Some Markets Indicates Positive Spring

According to the Fastest Markets Report issued by Redfin, homes are "flying off the market" in many places, such as San Francisco, California; Austin, Texas; and Washington, D.C. The report notes that although homes are selling faster, fewer total homes are selling. Inventory has risen in these metros, but prices are holding buyers back.

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Rising Prices and Mortgage Rates Stall Home Sales

Short Sales

"The combination of steep price appreciation and rising mortgage rates is likely coming as a shock to many prospective buyers," Redfin stated in its latest Real-Time Price Tracker. Home sales declined 10.3 percent across the country year-over-year in February, falling for the fourth straight month with sharp drops in West Coast markets.

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Fewer Prospective Homeowners to Clash Over Homes

Low inventory and rising prices are thwarting demand in the housing market as overall home competition is down from last January. Numbers showing competition between buyers in January, 2014, are up, but yearly overall competition for 2014 is expected to dwindle as rising prices prevent many home shoppers from feeling that they are “getting a deal,” according to Redfin.

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