Monthly Market Update

Pending sales increased 3% in December from the month before, the first monthly gain since October 2021. But sellers remained on the sidelines, with new listings posting their biggest annual drop since the start of the pandemic.  Seasonally adjusted pending home sales rose 2.9% nationwide in December, the first month-over-month increase since October 2021. Pending

A surge in mortgage rates in early November caused sales and prices to slow, but there are early signs that demand may be creeping back as rates reverse course. Home sales fell 35.1% year over year in November on a seasonally-adjusted basis—the largest decline in Redfin’s records that date back to 2012. Home-price growth also

The historic slowdown may ease in the coming months if inflation continues to cool. Pending home sales fell the most on record in October and deal cancellations and price cuts hit record highs as buyers were spooked by the biggest mortgage-rate jump in over four decades. Pending sales dropped 32.1% year over year last month,

New listings fell 8% in August to their lowest level since May 2020. Prior to the onset of the pandemic, the last time so few homes hit the market was August 2012.