Weekly Market Update

Mortgage-purchase applications are declining and pending home sales are sluggish. The 2025 spring homebuying season is lackluster, with record-high housing costs and widespread economic instability keeping would-be homebuyers at bay.  Mortgage-purchase applications are down 6% month over month, and Redfin’s Homebuyer Demand Index–a measure of tours and other buying services from Redfin agents–is essentially flat. […]

Nationwide, home prices are up 2.1%  year over year, the slowest growth rate in nearly two years.  The median home-sale price declined year over year in 11 of the 50 most populous U.S. metro areas during the four weeks ending April 20. The last time home prices dropped in that many metros was over a

U.S. home prices are growing half as fast as they were at the end of last year.  Nationwide, the median home-sale price rose 2.6% year over year during the four weeks ending April 13. That’s roughly the same as the increases we’ve seen over the past month, but down from 5% to 6% growth at

Pending home sales and mortgage applications improved a bit at the start of April. But since then, the back-and-forth on President Trump’s new tariff policy, rising mortgage rates and the increased odds of a recession have likely pushed down homebuying sentiment.  The housing market is under pressure as prospective homebuyers and sellers navigate a rapidly

Soaring housing payments are keeping many homebuyers on the sidelines, but new listings are ticking up and there are signs some house hunters are emerging as we enter spring.  Housing costs are at an all-time high. The typical U.S. homebuyer’s monthly payment hit a record high for the second week in a row, reaching $2,802

The median monthly mortgage payment reached a record high this week, putting a lid on pending home sales. New listings, on the other hand, are improving.  The typical U.S. homebuyer’s monthly housing payment hit an all-time high of $2,807 during the four weeks ending March 23, up 5.3% from a year earlier.  Housing costs are