Homebuyer demand fell 0.7 percent month over month to 120 in June.
Newly Launched Redfin Compete Score Helps People Understand What it Takes to Buy a Home Based on Competitiveness in Cities and Neighborhoods
Just 5% would scrap their plans to buy if rates rose above 5%
Cash is king, but a personal letter to the seller increases a competitive offer’s chance of being accepted by 52%.
“In this market, homebuyers have to move fast, yet high prices and low inventory are slowing down even the most earnest of house hunters,” said Redfin chief economist Nela Richardson.
In May 2017, Redfin commissioned a survey of 3,350 U.S. residents in 11 metropolitan areas who in the past year bought or sold a home, attempted to do so or plan to do so soon.