Mortgage rates are forecasted to stay elevated near 7%. Redfin economists expect the median U.S. home-sale price to fall flat in the third quarter, and fall 1% year over year by the fourth quarter. When it comes to mortgage rates, we expect them to remain elevated near 7% for the remainder of the year. This […]
Redfin Forecast: U.S. Home Prices Will Dip 1% By the End of 2025 Read More »
Would-be buyers are sidelined by record-high housing costs and economic instability, allowing inventory to pile up. New listings of U.S. homes for sale rose 8.4% year over year to their highest level in nearly three years during the four weeks ending May 18. But buyers aren’t biting: Pending sales fell 2.2%, dropping to their lowest
New Listings Hit Highest Level in Nearly 3 Years Read More »
U.S. home prices in April nudged down 0.1%, the first month-over-month decline since September 2022. Home prices rose 4.1% year over year—the smallest increase since July 2023. Half of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Charlotte (-1%). U.S. home prices ticked down 0.1% in
U.S. Home Prices Tick Down 0.1% in April, the First Monthly Drop Since 2022 Read More »
Sales of existing homes dropped to a seasonally adjusted annual rate of 4,196,707 in April, and pending sales fell the most since 2023. The supply of homes for sale hit a five-year high, putting downward pressure on prices, which grew at the slowest pace in nearly two years. Still, high homebuying costs spooked buyers, as
Most of April’s most expensive home sales were in beachfront Florida, with a pair of Beverly Hills estates and two luxury Manhattan condos rounding out the top 10. A trio of neighboring properties in Naples, FL, made up three of April’s most expensive home sales, including the most expensive: a beachfront estate that went for
Here Are the Most Expensive Home Sales of April Read More »
New listings are still rising, allowing some buyers to get deals. Pending U.S. home sales fell 3.4% year over year during the four weeks ending May 11 to their lowest level on record for this time of year aside from 2020. Would-be homebuyers are backing off for two main reasons. One, rising home-sale prices and
Economic Jitters, High Costs Stifle Spring Home Sales Read More »
