Limited new listings are making it feel like a seller’s market in some parts of the U.S. even though sales are down by double digits. But some markets still feel cool, with for-sale homes lingering on the market. If it feels like there aren’t enough homes on the market for the people who want to […]
Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from our agents, jumped as prices fell for the sixth-straight week and mortgage rates declined for the third week in a row. But a lack of new listings is holding back sales. House hunters are wading into the market as mortgage rates
Housing Market Update: Early-Stage Homebuying Demand Hits Highest Level Since May Read More »
Redfin.com user search data shows that 14% fewer homebuyers looked to move within their own metro area than a year earlier in February, compared with a 4% drop for out-of-town movers. The number of Redfin.com home searchers looking to relocate to a new metro fell 3.6% year over year in February. That compares with a
Cross-Country Movers Largely Undeterred By High Mortgage Rates Read More »
Seattle, San Jose, Austin and Phoenix are among the metros with the fastest-slowing housing markets as high mortgage rates, tech turmoil and the lack of homes for sale deter buyers. Connecticut, upstate New York and parts of the Midwest are holding up best. Housing markets in tech hubs and pandemic migration hotspots are cooling more
Housing Markets in West Coast Hubs and Zoom Towns Cooling Fastest Read More »
Homebuying demand persisted as mortgage rates declined for the second week in a row after the Fed announced it will only modestly hike interest rates. But limited supply is another barrier for buyers, who are competing for the few homes on the market. This week’s news that the Fed is modestly hiking interest rates and
The typical U.S. homebuyer made a $42,000 down payment in January, the lowest level in nearly two years, amid rising mortgage rates and low competition The median down payment was equal to 10% of the purchase price, down from 14% a year earlier. Nearly one-third home purchases were paid for in cash, the highest share
The Typical Down Payment Has Fallen 10% From a Year Ago As Housing Market Cools Read More »
