Pending sales posted their biggest decline in over a year this week, as did new listings. But mortgage-purchase applications are on the rise, and mortgage rates are coming down. Home tours and pending sales are falling as devastating wildfires burn in Southern California, extreme cold and snow hit the Northeast, Midwest and South, and housing […]
More house hunters are hitting the pavement as the new year starts, but pending home sales are down as daily average mortgage rates hit a seven-month high. More house hunters are starting their home search as the new year kicks off. Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of tours and other buying services from
Home Tours Rise Modestly to Start 2025, But That Hasn’t Translated to More Sales Read More »
Many homeowners are staying put because today’s housing costs are so high. More than one-third (34%) of U.S. homeowners say they’ll never sell their home, according to a recent Redfin-commissioned survey. Another 27% say they wouldn’t consider selling for at least 10 years. Roughly one-quarter (24%) plan to sell in five to 10 years, while
More Than One-Third of Homeowners Say They’ll Never Sell Read More »
A household earning the median U.S. income would have had to spend 41.8% of their earnings on monthly housing costs to buy the typical home in 2024, a slight improvement from 42.2% in 2022. A homebuyer needed to earn an annual income of at least $116,782 if they wanted to spend no more than 30%
Supply increased from a year earlier to close out 2024, while pending home sales posted a small decline as mortgage rates remained near 7%. We’re taking a break from analysis this week, but please see the tables and charts below for the latest housing-market data. We’ll be back with full commentary next week. Happy New
New Listings Rise 8%, Giving the New Year’s Buyers More Homes to Choose From Read More »
Over half of home listings last month sat on the market for 60 days or longer—the highest November share since 2019. That’s a major reason housing supply jumped 12%. Active listings—the total number of homes for sale—climbed to the highest level since 2020 in November on a seasonally adjusted basis, rising 0.5% month over month
