A weekly update of housing market supply, demand, and prices.
House hunters are touring homes and applying for mortgages as rates stay below 7%, but prospective buyers aren’t always following through with a purchase. The typical U.S. homebuyer’s monthly housing payment is $2,793, just a few dollars shy of the all-time high. Housing payments are sky-high for two reasons. One, sale prices keep rising; the […]
Prospective homebuyers are hitting the pavement as rates drop to their lowest level since mid-December. But that hasn’t yet translated to sales. More house hunters are touring homes as mortgage rates decline. Mortgage-purchase applications rose 7% this week to their highest level since the start of February as weekly average mortgage rates dipped to their
More People Are House Hunting and Applying For Mortgages as Rates Decline Read More »
Mortgage rates dipped to their lowest level in nearly three months this week, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing. Pending U.S. home sales fell 6.4% from a year earlier during the four weeks ending March 2, the second-biggest
Some Redfin agents are advising prospective buyers to get serious now as mortgage rates decline and the housing market tilts in buyers’ favor. The median U.S. home-sale price rose just 3.5% year over year during the four weeks ending February 23, the smallest increase since September. And mortgage rates have declined to their lowest level
Home-Price Growth Slows As Mortgage Rates Dip to Lowest Level in Over 2 Months Read More »
The median monthly housing payment remains near record highs, but slowing price growth, declining mortgage rates and a pileup of supply is giving homebuyers in certain parts of the country room to negotiate. The median U.S. home-sale price rose 3.7% year over year during the four weeks ending February 16, the smallest increase since September.
New listings are up 7.4% from a year earlier, while pending sales are down 6%. Sales are slow mostly because of high home prices and mortgage rates. In Washington, D.C. and other places with a high concentration of government workers, Redfin agents report some buyers and sellers are changing plans due to uncertainty about their
