Weekly Market Update

Pending home sales are down 1% year over year while new listings are still rising, giving buyers negotiating power.  Just over 28% of U.S. homes are selling above the asking price, down from 32% a year earlier. That’s the lowest level for this time of year since 2020, when the start of the pandemic ground […]

Many prospective homebuyers are sidelined by near-record costs and economic uncertainty, creating a buyer’s market in many parts of the country. That’s deterring some would-be sellers.  New listings of U.S. homes for sale rose 6.3% year over year during the four weeks ending June 1, one of the smallest increases of the last three months.

The median monthly U.S. mortgage payment is just $25 shy of its record high, sidelining would-be buyers. But the tide is turning for buyers: Redfin economists expect home prices to decline by the end of the year, and a surplus of listings is motivating sellers to negotiate.  The median monthly mortgage payment nationwide was $2,860

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 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

With new listings rising and pending sales declining, Redfin agents suggest sellers set their asking price fairly from the start to attract buyers and avoid price drops.  The median U.S. monthly housing payment hit an all-time high of $2,868 during the four weeks ending May 4. That’s due to two key factors: Home-sale prices are