{"id":78746,"date":"2024-10-24T05:00:29","date_gmt":"2024-10-24T12:00:29","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78746"},"modified":"2024-10-23T15:16:15","modified_gmt":"2024-10-23T22:16:15","slug":"housing-market-update-demand-holding-up-mortgage-rates-rise","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/","title":{"rendered":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates"},"content":{"rendered":"

Pending sales and home tours remain fairly strong as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up. <\/span><\/i><\/p>\n

Pending U.S. home sales rose 3.5% year over year during the four weeks ending October 20, the biggest increase in three years (with the exception of the prior 4-week period, when they rose 3.7%). On a local level, pending sales are up in 35 of the 50 most populous U.S. metros, the most in three years.\u00a0<\/span><\/p>\n

Demand is also holding up at earlier stages of the homebuying process. Redfin\u2019s Homebuyer Demand Index\u2013a measure of tours and other buying services from Redfin agents\u2013hit its highest level since May, and is up 3% year over year.<\/span><\/p>\n

Redfin economists say pending sales and home tours are performing surprisingly well in the face of high housing costs and uncertainty surrounding the upcoming election. <\/span>Chen Zhao<\/span><\/a>, Redfin\u2019s economic research lead, said she would expect a bigger dropoff in homebuying demand given how much mortgage rates have increased in the last few weeks. <\/span>The weekly average mortgage rate is <\/span>6.44%<\/span><\/a>, up from a two-year low of 6.08% at the end of September, and the daily average is <\/span>6.92%<\/span><\/a>, its highest level since July.\u00a0<\/span><\/p>\n

Election uncertainty, stronger-than-expected economy are pushing mortgage rates up<\/h3>\n

Mortgage rates are jumping because investors\u2019 expectations of the impending election are shifting, and because the most recent <\/span>jobs<\/span><\/a> and <\/span>inflation<\/span><\/a> reports showed the economy is a bit stronger than expected.<\/span><\/p>\n

\u201cInvestors in the bond market are particularly worried about the possibility of increased government debt after the election,\u201d Zhao said. \u201cThey\u2019re concerned that one party could end up controlling both the White House and Congress, which would increase government spending more. That concern, along with strong economic data, is <\/span>pushing up<\/span><\/a> 10-year treasury yields and mortgage rates.\u201d<\/span><\/p>\n

High mortgage rates have pushed monthly housing payments near their highest level since July<\/h3>\n

Rising rates and stubbornly high home prices have pushed the median U.S. monthly housing payment to $2,587, the highest level since July (except the prior 4-week period, when the median payment was $2,591). Cash buyers may be propping up home sales: Mortgage-purchase applications <\/span>fell 5%<\/span><\/a> in the last week, dropping near their <\/span>lowest level<\/span><\/a> in a year, even as pending sales and early-stage demand hold up.\u00a0<\/span><\/p>\n

On the selling side, new listings of homes for sale are up 2.2% annually, one of the smallest increases in a year.\u00a0<\/span><\/p>\n

\u201cThere are buyers out there, especially for homes in desirable locations with highly rated schools and counties with lower taxes,\u201d said <\/span>Shari Mosteller<\/span><\/a>, a Redfin Premier agent in Atlanta. \u201cBut more buyers are negotiating on price, asking for concessions and money toward closing costs. On my listings, I\u2019m seeing a trend of buyers asking for minor repairs and\/or cosmetic items. Many are getting creative with different types of mortgages, opting for an adjustable rate or a shorter loan period. That said, a fair amount of folks, both buyers and sellers, are <\/span>waiting on the sidelines<\/span><\/a> until after the election because they feel a lot of uncertainty in the housing market.\u201d<\/span><\/p>\n

For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201c<\/span><\/i>From Our Economists<\/span><\/i><\/a>\u201d page.<\/span><\/i>\u00a0<\/span><\/p>\n

Leading indicators<\/h3>\n\n\n\n\n\n\n\n\n\n\n
Indicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n
<\/td>\nValue (if applicable)<\/b><\/td>\nRecent change<\/b><\/td>\nYear-over-year change<\/b><\/td>\nSource<\/b><\/td>\n<\/tr>\n
Daily average 30-year fixed mortgage rate<\/b><\/td>\n6.92% (Oct. 23)<\/span><\/td>\nHighest level since July\u00a0<\/span><\/td>\nDown from 7.91%<\/span><\/td>\nMortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Weekly average 30-year fixed mortgage rate<\/b><\/td>\n6.44% (week ending Oct. 17)<\/span><\/td>\nUp from 2-year low of 6.08% 3 weeks earlier<\/span><\/td>\nDown from 7.63%<\/span><\/td>\nFreddie Mac<\/span><\/a><\/td>\n<\/tr>\n
Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<\/td>\nDown 5%\u00a0 from a week earlier (as of week ending Oct. 18)<\/span><\/td>\nUp 3%<\/span><\/td>\nMortgage Bankers Association\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Redfin Homebuyer Demand Index (seasonally adjusted)<\/b><\/td>\n<\/td>\nUp 7% from a month earlier<\/span><\/p>\n

(as of week ending Oct. 20)<\/span><\/td>\n

Up 3%<\/span><\/p>\n

Highest level since May\u00a0<\/span><\/td>\n

Redfin Homebuyer Demand Index a measure of tours and other homebuying services from Redfin agents<\/span><\/td>\n<\/tr>\n
Touring activity<\/b><\/td>\n<\/td>\nDown 1% from the start of the year (as of Oct. 21)<\/span><\/td>\nAt this time last year, it was down 13% from the start of 2023<\/span><\/td>\nShowingTime<\/span><\/a>, a home touring technology company\u00a0<\/span><\/td>\n<\/tr>\n
Google searches for \u201chome for sale\u201d<\/b><\/td>\n<\/td>\nUp 4% from a month earlier (as of Oct. 21)<\/span><\/td>\nDown 8%<\/span><\/td>\nGoogle Trends\u00a0<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Key housing-market data<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
U.S. highlights: Four weeks ending Oct. 20, 2024<\/b><\/p>\n

Redfin\u2019s national metrics include data from 400+ U.S. metro areas, and is based on homes listed and\/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.\u00a0<\/span><\/i><\/td>\n<\/tr>\n

<\/td>\nFour weeks ending Oct. 20, 2024<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n
Median sale price<\/b><\/td>\n$385,250<\/span><\/td>\n4.7%<\/span><\/td>\nBiggest increase since March<\/span><\/td>\n<\/tr>\n
Median asking price<\/b><\/td>\n$399,098<\/span><\/td>\n6.1%<\/span><\/td>\nBiggest increase in 2 years<\/span><\/td>\n<\/tr>\n
Median monthly mortgage payment<\/b><\/td>\n$2,587 at a 6.44% mortgage rate<\/span><\/td>\n-4.6%<\/span><\/td>\nUp from $2,487 a month earlier; near highest level since July<\/span><\/td>\n<\/tr>\n
Pending sales<\/b><\/td>\n75,156<\/span><\/td>\n3.5%<\/span><\/td>\nBiggest increase in nearly 3 years (except the prior 4-week period, when they increased 3.7%)<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\n84,285<\/span><\/td>\n2.2%<\/span><\/td>\nSmallest increase in a year (except the 4-week period ending August 25, when there was a 1.8% increase)<\/span><\/td>\n<\/tr>\n
Active listings<\/b><\/td>\n1,029,151<\/span><\/td>\n15.2%<\/span><\/td>\nSmallest increase since March<\/span><\/td>\n<\/tr>\n
Months of supply\u00a0<\/b><\/td>\n4.1<\/span><\/td>\n+0.6 pts.\u00a0<\/span><\/td>\n4 to 5 <\/span>months of supply<\/span><\/a> is considered balanced, with a lower number indicating seller\u2019s market conditions.\u00a0<\/span><\/td>\n<\/tr>\n
Share of homes off market in two weeks\u00a0<\/b><\/td>\n33.3%<\/span><\/td>\nDown from 38%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median days on market<\/b><\/td>\n40<\/span><\/td>\n+7 days<\/span><\/td>\n<\/td>\n<\/tr>\n
Share of homes sold above list price<\/b><\/td>\n26%<\/span><\/td>\nDown from 30%<\/span><\/td>\n<\/td>\n<\/tr>\n
Average sale-to-list price ratio\u00a0<\/b><\/td>\n98.8%<\/span><\/td>\n-0.3 pts.\u00a0<\/span><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n
\n

Metro-level highlights: Four weeks ending Oct. 20, 2024<\/b><\/p>\n

Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/span><\/i><\/p>\n<\/th>\n<\/tr>\n

<\/th>\nMetros with biggest year-over-year increases<\/b><\/th>\n\n

Metros with biggest year-over-year decreases<\/b><\/p>\n<\/th>\n

Notes<\/b><\/th>\n<\/tr>\n
Median sale price<\/b><\/th>\nMilwaukee (12.8%)<\/span><\/p>\n

Fort Lauderdale, FL (11.7%)<\/span><\/p>\n

Nassau County, NY (10.1%)<\/span><\/p>\n

Providence, RI (9.4%)<\/span><\/p>\n

Chicago (9.3%)<\/span><\/th>\n

Austin, TX (-3.9%)<\/span><\/p>\n

San Antonio (-3.1%)<\/span><\/p>\n

San Francisco (-0.9%)<\/span><\/th>\n

\n

Declined in 3 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n

Pending sales<\/b><\/td>\nSan Francisco (21.2%)<\/span><\/p>\n

Portland, OR (19.7%)<\/span><\/p>\n

Seattle (17.9%)<\/span><\/p>\n

San Jose, CA (16.5%)<\/span><\/p>\n

Anaheim, CA (16.2%)<\/span><\/td>\n

Tampa, FL (-33.7%)<\/span><\/p>\n

West Palm Beach, FL (-19.8%)<\/span><\/p>\n

Fort Lauderdale, FL (-16.7%)<\/span><\/p>\n

Miami (-14.5%)<\/span><\/p>\n

Orlando, FL (-13.6%)<\/span><\/td>\n

Increased in 35 metros<\/span><\/p>\n

The last time pending sales increased in this many metro areas was in May 2021<\/span><\/td>\n<\/tr>\n

New listings<\/b><\/td>\nSan Jose, CA (17.8%)<\/span><\/p>\n

Seattle (16.7%)<\/span><\/p>\n

Phoenix (16.7%)<\/span><\/p>\n

Baltimore, MD (16.3%)<\/span><\/p>\n

Anaheim, CA (15.1%)<\/span><\/td>\n

Tampa, FL (-40%)<\/span><\/p>\n

Atlanta (-17.2%)<\/span><\/p>\n

West Palm Beach, FL (-14.4%)<\/span><\/p>\n

Orlando, FL (-12.5%)<\/span><\/p>\n

Fort Lauderdale, FL (-9.2%)<\/span><\/td>\n

Declined in 9 metros<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Refer to our <\/span>metrics definition page<\/span><\/a> for explanations of all the metrics used in this report.<\/span><\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Pending sales and home tours remain fairly strong as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up. Pending U.S. home sales rose 3.5% year over year during the four weeks ending October 20, the biggest increase in three years (with the exception of the prior 4-week period, […]<\/p>\n","protected":false},"author":13153,"featured_media":78759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","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":"set","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":[623,655,654],"dashboard":[],"coauthors":[124],"class_list":["post-78746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-weekly-market-update","tag-national","tag-weekly-market-tracker","tag-weekly-market-update"],"acf":[],"yoast_head":"\nHomebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates<\/title>\n<meta name=\"description\" content=\"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.\" \/>\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-demand-holding-up-mortgage-rates-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates\" \/>\n<meta property=\"og:description\" content=\"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/\" \/>\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=\"2024-10-24T12:00:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1704\" \/>\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=\"8 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-demand-holding-up-mortgage-rates-rise\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates\",\"datePublished\":\"2024-10-24T12:00:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/\"},\"wordCount\":1020,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg\",\"keywords\":[\"national\",\"weekly market tracker\",\"weekly market update\"],\"articleSection\":[\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/\",\"name\":\"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg\",\"datePublished\":\"2024-10-24T12:00:29+00:00\",\"description\":\"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg\",\"width\":1803,\"height\":1200,\"caption\":\"Photos from the 2024 Premier Direct Mail Campaign\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-demand-holding-up-mortgage-rates-rise\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates\"}]},{\"@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":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates","description":"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.","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-demand-holding-up-mortgage-rates-rise\/","og_locale":"en_US","og_type":"article","og_title":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates","og_description":"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.","og_url":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2024-10-24T12:00:29+00:00","og_image":[{"width":2560,"height":1704,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.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":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/"},"author":{"name":"Dana Anderson","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b"},"headline":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates","datePublished":"2024-10-24T12:00:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/"},"wordCount":1020,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg","keywords":["national","weekly market tracker","weekly market update"],"articleSection":["Housing Market News","Weekly Market Update"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/","url":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/","name":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg","datePublished":"2024-10-24T12:00:29+00:00","description":"Pending sales and home tours remain fairly strong, even as mortgage rates rise to their highest levels since mid-summer and uncertainty around the election picks up.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/PDM24_OC_7195-Sherwood-Dr_Huntington-Beach_CA_83_RGB-scaled.jpg","width":1803,"height":1200,"caption":"Photos from the 2024 Premier Direct Mail Campaign"},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-demand-holding-up-mortgage-rates-rise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Homebuying Demand Holds Up Even As Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates"}]},{"@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\/78746","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=78746"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/78746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/78759"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=78746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=78746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=78746"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=78746"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=78746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}