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Housing Market

Home Purchase Cancellations Are No Longer on the Rise As Demand Ticks Up

Contract cancellations declined slightly in April as homebuyers and sellers gained a clearer sense of the housing market after years of volatility, and as demand picked up. Homebuyers were most likely to back out of deals in Atlanta, San Antonio and other Sun Belt metro areas that are big-time buyer’s markets.  Contract cancellations were least […]

Prices Drops Are Becoming Slightly Less Common As Housing Market Stabilizes

The share of home sellers cutting their asking prices has fallen from its peak as buyers lose a bit of negotiating power, but price drops are still much more common than in years past.  Redfin Early Access, which allows sellers to test the market via “coming soon” listings, can help homeowners price accurately from the […]
Affordability

U.S. Home Prices Rose 0.2% in April

Improving homebuyer demand could fuel further price gains in the coming months. Montgomery County, PA saw the biggest price gain, followed by Cleveland and Nassau County, NY. The biggest declines were in Oakland, CA, Newark, NJ and Phoenix. U.S. home prices rose 0.2% month over month in April on a seasonally adjusted basis, and climbed […]
Weekly Market Update

Pending Home Sales Jump 10% From a Year Ago to Highest Level Since 2022

Sale prices are rising as homebuying demand strengthens.  U.S. pending homes sales jumped 9.6% year over year to their highest level since September 2022, on a seasonally adjusted basis. Pending sales are rising in every major U.S. metro except three (Houston, Detroit and Seattle). Mortgage-purchase applications are up 4% week over week.  Strengthening demand is […]
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