15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida. Roughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month. That’s up from 14.5% a year earlier and […]
Home Purchases Are Getting Canceled at a Record Rate Read More »
U.S. home prices fell 0.1% in July, the third month-over-month decline in the past three months. On a year-over-year basis, home prices rose 2.9%, the lowest annual rate in Redfin’s records going back to 2012. A record 39 of the top 50 U.S. metros saw month-over-month price declines. U.S. home prices nudged 0.1% lower in
Home Prices Tick Down 0.1% in July, Fall in 39 of the Top 50 U.S. Metros Read More »
The typical home that went under contract in July sat on the market for 43 days—the longest July span since 2015—as pending sales hit a two-year low. Some sellers are reacting by, well, not selling; active listings posted the largest monthly drop since 2023. Home prices rose 1.4% year over year, a faster rate of
Homes Are Selling at the Slowest Summer Pace in a Decade Read More »
Personal safety is the number-one must-have on homebuyers’ checklists, though 22% say they’re willing to compromise on it for affordability. The next-most important priorities are a low crime rate and low risk of natural disasters. Roughly one in five (22%) homebuyers are willing to compromise personal safety to afford a home, according to a recent
One in Five House Hunters Is Willing To Compromise Personal Safety to Afford a Home Read More »
The average U.S. buyer’s agent commission rose to 2.43% in the second quarter from 2.38% a year earlier. Commissions rose across all price tiers, with the average buyer’s commission for homes under $500,000 reaching the highest level in nearly two years. The average U.S. buyer’s agent commission was 2.43% for homes sold in the second
Buyer’s Agent Commissions Tick Up to Pre-NAR Settlement Levels Read More »
The majority of America’s most resilient housing markets are located in the Rust Belt and are seeing an increase in home sales and prices. The fastest-cooling U.S. markets are concentrated in Sun Belt states, where soaring inventory is causing prices to fall in some places. The U.S. housing market has been losing steam due to
