Housing Affordability

Redfin’s Homebuyer Demand Index ticked up this week as steadily declining rates lured some buyers back in. But many would-be buyers are waiting for lower rates and prices, with the typical home’s time on market rising at its fastest annual pace on record and supply increasing. The total number of homes for sale increased 15% […]

Mortgage applications and Redfin’s demand index, a measure of tours and other homebuying services, are up as mortgage rates continue to come down. But pending home sales declined and the number of homes on the market increased as buyers took a break over Thanksgiving. Homebuying demand has started ticking up as mortgage rates continue their

Mortgage-purchase applications and Redfin’s Homebuyer Demand Index both increased as rates stayed around 6.6%, down sharply from 7% earlier this month, saving the typical buyer over $100 in monthly mortgage payments. Still, supply is piling up–posting a record annual increase–as pending sales fell the most on record. We are taking a short break from analysis

Mortgage rates dropped from over 7% to 6.6% this week on better-than-expected inflation news, bringing some hope to prospective buyers.  The largest weekly drop in mortgage rates in four decades, along with the slowest annual home-price growth since the start of the pandemic, is providing some relief for would-be homebuyers’ budgets.  Last week’s better-than-expected inflation