All Redfin Reports
However, home prices were up 16%, and new listings posted their first year-over-year decline since February, which could signal a tightening market.
The 7% increase was the smallest since June 2020, but home prices rose 14% from a year earlier. Asking prices have also ticked up in recent weeks.
59% of Home Offers Written by Redfin Agents Faced Bidding Wars in August—the Lowest Level Since 2020
Competition is easing as homebuyers grow tired of sky-high asking prices and the housing market enters its typical seasonal slowdown. In August, 58.8% of home offers written by Redfin agents faced competition—a record low for 2021. That’s down from a revised rate of 62.1% in July and a peak of 74.3% in April. It’s also
However, rents are climbing rapidly in some places, up over 20% from a year earlier in many Florida metros, Riverside, CA, Phoenix and Las Vegas.
Strong demand pushed home prices up 14% from a year earlier.
Homes are also taking longer to sell. Still, prices are up 15% from a year ago.