Weekly Market Update

Mortgage rates dropped to their lowest level since February after the latest CPI report showed inflation cooling. Still, pending home sales posted their biggest decline in eight months. Daily average mortgage rates have dropped to their lowest level since February after last week’s cooler-than-expected inflation report, bringing homebuyers a bit of relief.  A homebuyer on […]

The median U.S. sale price is up 5% year over year. But there are signs that price growth could slow soon, with the average home selling for under list price, inventory rising and a high share of listings growing stale.  The median U.S. home-sale price hit an all-time high of $397,482 during the four weeks

Pending home sales posted their biggest decline since February during the four weeks ending June 30. The good news for prospective buyers: There are more new listings to choose from, and monthly housing payments are down nearly $100 from their April peak as mortgage rates decline. We’re taking a break from analysis this week; please

The typical U.S. home that sold during the four weeks ending June 23 sold for 0.3% less than its asking price. This marks the first time the typical home has sold under list price this time of year since the onset of the pandemic in 2020, when the housing market nearly ground to a halt.

Housing costs could come down in the coming months, as mortgage rates are coming down a bit and there are signs price growth could slow. Redfin agents report that there’s room for buyers to negotiate paying under list price for homes that need a bit of work. Pending sales post their biggest decline since the

Daily average mortgage rates dropped to their lowest level in three months after the May CPI report showed that inflation is continuing to cool. That could bring back some demand; for now, home sales are still declining. The median U.S. home-sale price hit an all-time high of $394,000 during the four weeks ending June 9,