Weekly Market Update

Pending home sales posted their biggest decline in nearly a year, despite the median U.S. housing payment dropping to its lowest level in five months. Would-be homebuyers are waiting for clarity about the NAR settlement, the presidential election and whether mortgage rates will fall more.  Pending home sales fell 6.9% during the four weeks ending […]

Signals of early-stage homebuying demand, including home tours, are gaining momentum as mortgage rates stabilize at a 15-month low.  The median U.S. monthly mortgage payment was $2,587 during the four weeks ending August 18, its lowest level since February and down 0.1% from a year earlier. That’s a tiny drop, but it marks the first

The median U.S. housing payment has dropped to nearly $250 below its springtime peak as mortgage rates decline. While Redfin agents are reporting a modest uptick in touring, pending home sales are down 5% year over year.  The median housing payment for U.S. homebuyers has dropped to its lowest level since February as weekly average

A soft jobs report and recession jitters sent mortgage rates down last week. Despite the small improvement in affordability, pending sales still posted their biggest year-over-year decline in 9 months–but the rate drop prompted some prospective buyers to start the house-hunting process. Mortgage rates dropped to their lowest level since April 2023 early this week,

Monthly housing payments have dropped to their lowest level in four months, but homebuyers and sellers aren’t yet reacting. In addition to pending home sales falling, new listings posted their smallest increase in three months.  The median U.S. monthly housing payment was $2,667 during the four weeks ending July 28, its lowest level since March.

Monthly housing payments are falling as mortgage rates decline, but many house hunters remain on the sidelines, with pending sales posting their biggest drop in nearly nine months. That’s because sale prices are still near record highs; additionally, some would-be buyers are wary of political and economic instability.  The typical U.S. homebuyer’s monthly housing payment