Housing Market News
Housing Market Update: Activity Is Picking Up in 2024, But Severe Winter Weather Keeps Some Buyers and Sellers on the Sidelines
2024 is shaping up to be more active than 2023 for homebuyers and sellers, with mortgage applications and new listings rising. But Redfin economists believe demand and listings would be rising more if not for harsher-than-usual winter weather. Homebuyers and sellers are gradually becoming more active as the calendar flips further into 2024. Mortgage-purchase applications
Housing Market Update: The New Year Brings an Uptick in Early-Stage Demand As Mortgage Payments Fall and More Homes Hit the Market
As mortgage rates hold steady in the 6% range and new listings tick up, mortgage-purchase applications and Redfin home tours are rising. Redfin agents report that as the new year kicks off, more sellers are listing and more buyers are going on tours and applying for mortgages as rates remain in the mid-6% range, down
Housing Market Update: Homebuyers’ Monthly Payments Drop to Lowest Level in Nearly a Year, Bringing Back Some House Hunters
The median U.S. housing payment is down nearly $400 from its October peak, enticing some sidelined buyers to get back in the game. Redfin’s Demand Index, which measures early-stage demand, is up 10% from a month ago. The median U.S. mortgage payment was $2,361 during the four weeks ending December 31, down $372 (-14%) from
Housing Market Update: Homebuying Demand Shows Early Signs of Rebound Following Weeks of Declining Mortgage Rates and Increasing Listings
Declining mortgage rates and a double-digit increase in new listings are bringing house hunters off the sidelines, with pending sales posting their smallest decline in about 20 months. We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. We’ll be back with full commentary
Housing Market Update: Declining Mortgage Rates Lure Sellers Off Sidelines, Paving the Way For 2024 Buyers
Listing consults with Redfin agents have risen significantly since rates began to fall last month. Our economists expect buyers will take advantage of lower rates and more listings in the new year, after the typical holiday slowdown. This week’s falling mortgage rates, sizable year-over-year increases in both new listings and listing consults with Redfin agents,
Housing Market Update: Mortgage Rates and Housing Payments Drop to Lowest Level Since Spring
This week has brought a few pieces of good news to the housing market: Mortgage rates are dropping, new listings are rising and mortgage-purchase applications are up nearly 20% from their November low point. Daily average mortgage rates have fallen to 6.82%, their lowest level since May. This marks the first time daily rates have
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