Weekly Market Update

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 posted their second-biggest annual increase since early summer this week, and pending home sales continue to rise. New listings of homes for sale are up 7.6%, the biggest year-over-year increase since June (except the four weeks ending November 24, when the increase was inflated due to Thanksgiving). This is based on data from

Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November. More sellers are coming off the fence, too.  Mortgage rates are declining after last week’s cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly

The uptick in early-stage homebuying activity we saw immediately after the election is continuing, despite high home prices and mortgage rates.  Homebuying demand is ending the year strong. Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of tours and other buying services from Redfin agents–is sitting near its highest level since September 2023, and it’s up

Pending sales posted a big year-over-year increase this week,  partly because the boom in early-stage homebuying demand we saw just after the election is translating to sales and partly because we’re comparing to a period in 2023 that included Thanksgiving. U.S. pending home sales rose 12.1% year over year during the four weeks ending November