Existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346. Many buyers who came off the sidelines when mortgage rates bottomed in September finalized their purchases in October, causing sales to rise. But rates jumped last month, which—along with election jitters—put a damper on demand; pending sales […]
Existing Home Sales Post Biggest Increase in Nearly Three Years Read More »
Redfin’s Homebuyer Demand Index is rising and mortgage-rate locks are jumping, with some buyers wading back into the market now that the election has passed and the Fed has cut interest rates for the second month in a row. Early indicators of homebuying demand show that buyers are returning after taking a hiatus in the
Home Tours, Mortgage Locks Are Bouncing Back Post-Election Read More »
Donald Trump’s re-election seems to have had immediate consequences for housing in America. Demand from home-buyers requesting service through Redfin’s site, which was already stronger since the Federal Reserve’s September 18 rate cut, was about 25% higher this weekend than the same weekend last year, the largest year-on-year gain since the downturn began in 2022.
Way-Too-Early Take: What Trump’s Re-Election Could Mean for Housing Read More »
Nearly the same share, 21%, say they are less likely to consider moving now that the election is over, according to a recent Redfin-commissioned survey. Of those who are more likely to move, 36% say the results of the election are making them consider a different country, and 26% are considering a different state. 34%
Rates are inching down slightly after shooting up before the election—volatility that’s to be expected as investors try to figure out the impact of a Trump presidency. Rates will likely remain elevated if President Trump moves forward with the higher tariffs and tax cuts he has discussed. Mortgage rates shot up in the weeks leading
While home sales remained mostly resilient to election jitters and rising rates, Redfin agents report that some house hunters were waiting to hit the pavement until they knew more about the direction of the country and economy. Pending U.S. home sales rose 4.3% year over year during the four weeks ending November 3, in line
Pending Home Sales Held Steady in Final Run-Up to Election Despite 7% Mortgage Rates Read More »
