{"id":75476,"date":"2022-11-23T11:11:34","date_gmt":"2022-11-23T19:11:34","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=75476"},"modified":"2022-11-23T11:11:34","modified_gmt":"2022-11-23T19:11:34","slug":"housing-market-update-homebuying-demand-ticks-up-rate-drop","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/","title":{"rendered":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">Mortgage-purchase applications and Redfin\u2019s 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&#8211;posting a record annual increase&#8211;as pending sales fell the most on record.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">We are taking a short break from analysis this week, but please see the bullet points and charts below for this week\u2019s housing-market data. We\u2019ll be back with full commentary in next week\u2019s report. Happy Thanksgiving!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Leading indicators of homebuying activity:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For the week ending November 23, 30-year mortgage rates ticked down to <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">6.58%<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mortgage purchase applications during the week ending November 18 increased <\/span><a href=\"https:\/\/www.investing.com\/economic-calendar\/mba-purchase-index-1494\/?catPage=history\"><span style=\"font-weight: 400;\">8.7%<\/span><\/a><span style=\"font-weight: 400;\"> from a month earlier, seasonally adjusted. Purchase applications were <\/span><a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2022\/11\/23\/mortgage-applications-increase-in-latest-mba-weekly-survey\"><span style=\"font-weight: 400;\">down 41%<\/span><\/a><span style=\"font-weight: 400;\"> from a year earlier.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fewer people <\/span><a href=\"https:\/\/trends.google.com\/trends\/explore?date=2021-01-01%202022-11-06&amp;q=homes%20for%20sale#cmpt=q\"><span style=\"font-weight: 400;\">searched for \u201chomes for sale\u201d on Google<\/span><\/a><span style=\"font-weight: 400;\"> than this time in 2021. Searches during the week ending November 19 were down about 38% from a year earlier.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The seasonally adjusted Redfin Homebuyer Demand Index\u2014a measure of requests for home tours and other homebuying services from Redfin agents\u2014 was up 1.6% from a month earlier but down 33% from a year earlier during the four weeks ending November 20.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Touring activity as of November 20 was down 35% from the start of the year, compared to a 3% year-over-year decrease at the same time last year, according to home tour technology company <\/span><a href=\"https:\/\/www.showingtime.com\/impact-of-coronavirus\/\"><span style=\"font-weight: 400;\">ShowingTime<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Key housing market takeaways for 400+ U.S. metro areas:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Unless otherwise noted, the data in this report covers the <\/span><b>four-week period ending November 20<\/b><span style=\"font-weight: 400;\">. Redfin\u2019s weekly housing market data goes back through 2015.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Data based on homes listed and\/or sold during the period:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The median home sale price was $356,149, up 2.1% year over year, the smallest increase since the start of the pandemic.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Among the 50 most populous U.S. metros, home-sale prices fell from a year earlier in five of them. Prices declined 9.5% year over year in San Francisco, 2.1% in Sacramento, 1.7% in Detroit and less than 1% in San Jose, CA and San Diego.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Among the 50 most populous U.S. metros, pending sales fell the most from a year earlier in Las Vegas (-64%), Austin (-58.2%), Phoenix (-57%), Jacksonville, FL (-57%) and Sacramento (-54%).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The median asking price of newly listed homes was $363,600, up 4.6% year over year, the slowest growth rate since the beginning of the pandemic.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The monthly mortgage payment on the median-asking-price home was $2,384 at the current 6.58% mortgage rate. That\u2019s down slightly from a week earlier and down 6% from two weeks earlier, when mortgage rates were at 7.08%. That\u2019s equal to $140 in monthly\u00a0 mortgage savings from two weeks ago for the typical buyer. Still, monthly mortgage payments are up 41% from a year ago.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pending home sales were down 35.2% year over year, the largest decline since at least January 2015, as far back as this data goes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New listings of homes for sale were down 20% from a year earlier, one of the largest declines since the beginning of the pandemic.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Active listings (the number of homes listed for sale at any point during the period) were up 11.6% from a year earlier, the biggest annual increase since at least 2015.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Months of supply\u2014a measure of the balance between supply and demand, calculated by dividing the number of active listings by closed sales\u2014was 3.5 months, the highest level since June 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">32% of homes that went under contract had an accepted offer within the first two weeks on the market, little changed from the prior four-week period but down from 40% a year earlier.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Homes that sold were on the market for a median of 36 days, up more than a week from 28 days a year earlier and up from the record low of 17 days set in May and early June.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">27% of homes sold above their final list price, down from 42% a year earlier and the lowest level since July 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On average, 7.3% of homes for sale each week had a price drop, up from 3.4% a year earlier but down slightly from the previous two weeks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The average sale-to-list price ratio, which measures how close homes are selling to their final asking prices, fell to 98.5% from 100.4% a year earlier. That\u2019s the lowest level since June 2020.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Refer to our <\/span><a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\"><span style=\"font-weight: 400;\">metrics definition page<\/span><\/a><span style=\"font-weight: 400;\"> for explanations of all the metrics used in this report.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-75477 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-sale-price-1123.png\" alt=\"\" width=\"1069\" height=\"795\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-sale-price-1123.png 1069w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-sale-price-1123-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-sale-price-1123-1024x762.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-sale-price-1123-768x571.png 768w\" sizes=\"(max-width: 1069px) 100vw, 1069px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-75478 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-asking-price-1123.png\" alt=\"\" width=\"1075\" height=\"798\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-asking-price-1123.png 1075w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-asking-price-1123-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-asking-price-1123-1024x760.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/median-asking-price-1123-768x570.png 768w\" sizes=\"(max-width: 1075px) 100vw, 1075px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-75479 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mortgage-payments-1123.png\" alt=\"\" width=\"1072\" height=\"799\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mortgage-payments-1123.png 1072w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mortgage-payments-1123-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mortgage-payments-1123-1024x763.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mortgage-payments-1123-768x572.png 768w\" sizes=\"(max-width: 1072px) 100vw, 1072px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75480 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/pending-sales-1123.png\" alt=\"\" width=\"1152\" height=\"797\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/pending-sales-1123.png 1152w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/pending-sales-1123-300x208.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/pending-sales-1123-1024x708.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/pending-sales-1123-768x531.png 768w\" sizes=\"(max-width: 1152px) 100vw, 1152px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75481 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-listings-1123.png\" alt=\"\" width=\"1071\" height=\"798\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-listings-1123.png 1071w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-listings-1123-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-listings-1123-1024x763.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-listings-1123-768x572.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75482 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/active-listings-1123.png\" alt=\"\" width=\"1072\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/active-listings-1123.png 1072w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/active-listings-1123-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/active-listings-1123-1024x764.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/active-listings-1123-768x573.png 768w\" sizes=\"(max-width: 1072px) 100vw, 1072px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75483 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mos-1123.png\" alt=\"\" width=\"1074\" height=\"799\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mos-1123.png 1074w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mos-1123-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mos-1123-1024x762.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/mos-1123-768x571.png 768w\" sizes=\"(max-width: 1074px) 100vw, 1074px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75485 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/days-on-market-1121.png\" alt=\"\" width=\"1074\" height=\"795\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/days-on-market-1121.png 1074w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/days-on-market-1121-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/days-on-market-1121-1024x758.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/days-on-market-1121-768x568.png 768w\" sizes=\"(max-width: 1074px) 100vw, 1074px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75486 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sold-above-list-1121.png\" alt=\"\" width=\"1076\" height=\"798\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sold-above-list-1121.png 1076w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sold-above-list-1121-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sold-above-list-1121-1024x759.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sold-above-list-1121-768x570.png 768w\" sizes=\"(max-width: 1076px) 100vw, 1076px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75487 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/price-drops-1123.png\" alt=\"\" width=\"1076\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/price-drops-1123.png 1076w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/price-drops-1123-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/price-drops-1123-1024x761.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/price-drops-1123-768x571.png 768w\" sizes=\"(max-width: 1076px) 100vw, 1076px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75488 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sale-to-list-1121.png\" alt=\"\" width=\"1072\" height=\"796\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sale-to-list-1121.png 1072w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sale-to-list-1121-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sale-to-list-1121-1024x760.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/sale-to-list-1121-768x570.png 768w\" sizes=\"(max-width: 1072px) 100vw, 1072px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-75489 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/demand-index-1123.png\" alt=\"\" width=\"1071\" height=\"796\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/demand-index-1123.png 1071w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/demand-index-1123-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/demand-index-1123-1024x761.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/demand-index-1123-768x571.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage-purchase applications and Redfin\u2019s 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&#8211;posting a record annual increase&#8211;as pending sales fell the most on record. We are taking a short break from analysis [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":75490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,615],"tags":[20],"dashboard":[],"coauthors":[124],"class_list":["post-75476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-weekly-market-update","tag-housing-affordability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop<\/title>\n<meta name=\"description\" content=\"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop\" \/>\n<meta property=\"og:description\" content=\"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-23T19:11:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1277\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dana Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dana Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop\",\"datePublished\":\"2022-11-23T19:11:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/\"},\"wordCount\":709,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/new-home-g84b3dc97c_1920.jpg\",\"keywords\":[\"Housing Affordability\"],\"articleSection\":[\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/\",\"name\":\"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/new-home-g84b3dc97c_1920.jpg\",\"datePublished\":\"2022-11-23T19:11:34+00:00\",\"description\":\"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/new-home-g84b3dc97c_1920.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/new-home-g84b3dc97c_1920.jpg\",\"width\":1804,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-homebuying-demand-ticks-up-rate-drop\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\",\"name\":\"Dana Anderson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg6a0821cd173d24b4c47bf9d2c09ca097\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg\",\"caption\":\"Dana Anderson\"},\"description\":\"As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/dana-andersonredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop","description":"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/","og_locale":"en_US","og_type":"article","og_title":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop","og_description":"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.","og_url":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2022-11-23T19:11:34+00:00","og_image":[{"width":1920,"height":1277,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg","type":"image\/jpeg"}],"author":"Dana Anderson","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Dana Anderson","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/"},"author":{"name":"Dana Anderson","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b"},"headline":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop","datePublished":"2022-11-23T19:11:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/"},"wordCount":709,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg","keywords":["Housing Affordability"],"articleSection":["Housing Market News","Weekly Market Update"],"inLanguage":"en-US","copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/","url":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/","name":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg","datePublished":"2022-11-23T19:11:34+00:00","description":"Mortgage-purchase applications and Redfin\u2019s Homebuyer Demand Index both increased slightly as rates stayed around 6.6%, down sharply from 7%, saving the typical buyer over $100 in monthly mortgage payments.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/11\/new-home-g84b3dc97c_1920.jpg","width":1804,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-homebuying-demand-ticks-up-rate-drop\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week\u2019s Record-Fast Rate Drop"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b","name":"Dana Anderson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg6a0821cd173d24b4c47bf9d2c09ca097","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg","caption":"Dana Anderson"},"description":"As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.","url":"https:\/\/www.redfin.com\/news\/author\/dana-andersonredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/75476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13153"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=75476"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/75476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/75490"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=75476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=75476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=75476"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=75476"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=75476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}