Housing Market News
Housing Market Update: For the First Time in Nearly 2 Years, There’s No Major American Metro Where Home Prices Are Falling
Inventory is below typical April levels, driving home prices up. Continually rising mortgage rates are further eroding affordability–and this week’s Fed meeting confirmed that mortgage rates are likely to hold steady for the foreseeable future. The median home-sale price rose from a year earlier or stayed the same in all 50 of the most populous
Housing Market Update: Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising
The median U.S. home price rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023. Prices continue to rise partly because there are still serious buyers searching for homes. The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from
Housing Market Update: The Cost of Buying a Home Hits New Record As Mortgage Rates Jump, Prices Rise 5%
Daily average mortgage rates jumped to their highest level since last November after last week’s disappointing inflation report. Persistently high home prices are exacerbating affordability challenges for buyers. The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts
Housing Market Update: Monthly Payments Set New Record–and Buyers’ Costs Will Likely Stay High on Inflation News
Daily average mortgage rates reached their highest level in nearly five months following Wednesday’s hotter-than-expected inflation report, which will likely keep mortgage rates elevated for the foreseeable future. The median monthly U.S. housing payment hit an all-time high of $2,747 during the four weeks ending April 7, up 11% from a year earlier. Housing payments
Housing Market Update: Listings, Sales Stumble As Sellers and Buyers Take Easter Break
Growth in new listings slowed this week as some sellers pressed pause over Easter. Housing costs remain stubbornly high, deterring some buyers–but Redfin economists say costs could come down soon. What sellers are doing: New listings of U.S. homes for sale rose 8.4% from a year earlier during the four weeks ending March 31, the
Housing Market Update: Rising Supply Draws in Some Buyers, Even as Housing Payments Soar 10% to All-Time High
There are more homes for buyers to choose from, with new listings posting their biggest uptick in nearly three years. The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10% from a year earlier. Housing payments are at a record high because of the
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