{"id":79401,"date":"2025-03-06T05:01:15","date_gmt":"2025-03-06T13:01:15","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79401"},"modified":"2025-03-05T15:59:09","modified_gmt":"2025-03-05T23:59:09","slug":"housing-market-update-pending-sales-falling-mortgage-applications-rising","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/","title":{"rendered":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers"},"content":{"rendered":"

Mortgage rates dipped to their lowest level in nearly three months this week, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.<\/span><\/i><\/p>\n

Pending U.S. home sales fell 6.4% from a year earlier during the four weeks ending March 2, the second-biggest decline since November 2023.\u00a0<\/span><\/p>\n

Sales are\u00a0 sluggish because the median U.S. sale price is up 3.2%, and the typical homebuyer\u2019s monthly housing payment is just $26 shy of its all-time high. Plus, some prospective buyers are wary about making a big purchase amid <\/span>economic uncertainty<\/span><\/a>, including concerns about tariffs, slowing economic growth and layoffs.<\/span><\/p>\n

But homebuyers have gotten some relief in the past week, as the <\/span>daily average 30-year fixed mortgage rate<\/span><\/a> dipped to 6.7%, the lowest level in nearly three months. That seems to have brought some people off the sidelines: mortgage-purchase applications rose 9% week over week. <\/span><\/p>\n

In Southern California, Pending Sales Are Rising<\/h3>\n

 <\/p>\n

The housing market looks different in different metro areas. In parts of California, for instance, sales and listings are rising. Pending sales increased in just six major U.S. metros this week, four of them in California. In Los Angeles, pending sales rose 8.5% year over year, the biggest increase among the major U.S. metros. It\u2019s followed by Anaheim (6.3%), Phoenix (3%), Riverside (1.3%), Columbus, OH (1.1%) and Sacramento (0.4%).\u00a0<\/span><\/p>\n

On the selling side, California is home to four of the five biggest year-over-year upticks in new listings. First comes Phoenix, where listings are up 27.1%, followed by Sacramento (27%), Anaheim (20.1%), Los Angeles (20.1%) and San Diego (17.5%).\u00a0<\/span><\/p>\n

The Los Angeles market is picking up in the aftermath of January\u2019s devastating wildfires, which <\/span>destroyed thousands of homes<\/span><\/a>. Some of the people displaced by the fires are buying new homes, some other buyers are jumping back into the market after pressing pause amid the fires, and\u00a0 some homeowners are selling to meet demand.\u00a0<\/span><\/p>\n

\u201cPrices are up, homes are selling rapidly and overall, the housing market is strong,\u201d said Sam Najarian<\/a>, a Redfin Premier<\/a> agent in Los Angeles. \u201cThat was true before the wildfires, and it\u2019s true now. The fires have made it tough to get insurance and they\u2019re causing buyers to look away from the hills, but the spring homebuying season is definitely underway in the rest of Los Angeles. Some listings are getting lots of offers, and the best ones are going for $200,000 or $300,000 over asking price.\u201d<\/span><\/p>\n

Najarian added that in the wake of the Eaton and Palisades fires, homebuyers should be diligent about insurance. If a home is deemed high risk because of proximity to a fire zone, buyers may have a hard time finding or affording homeowners insurance\u2013and they should be aware premiums may rise more in a fire zone. Some house hunters are shifting their search from Altadena, which was hit hard by the Eaton fire, to Pasadena or other neighboring cities that have less stringent insurance regulations.\u00a0\u00a0\u00a0<\/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

 <\/p>\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>\n6.72% (March 5)<\/span><\/td>\nNear lowest level since Dec. 6<\/span><\/td>\nDown from 7.09%<\/span><\/td>\nMortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Weekly average 30-year fixed mortgage rate<\/b><\/td>\n6.76% (week ending Feb. 27)<\/span><\/td>\nLowest level since mid-December<\/span><\/td>\nDown from 6.94%<\/span><\/td>\nFreddie Mac<\/span><\/a><\/td>\n<\/tr>\n
Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<\/td>\nUp 9% from a week earlier (as of week ending Feb. 28)<\/span><\/td>\nUp 2%<\/span><\/td>\nMortgage Bankers Association\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Redfin Homebuyer Demand Index (seasonally adjusted)<\/b><\/td>\n<\/td>\nUp 3% from a month earlier (as of week ending March 2)<\/span><\/td>\nDown 3%<\/span><\/td>\nRedfin 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>\nUp 25% from the start of the year (as of March 2)<\/span><\/td>\nAt this time last year, it was up 24% from the start of 2024<\/span><\/td>\nShowingTime<\/span><\/a>, a home touring technology company<\/span><\/td>\n<\/tr>\n
Google searches for \u201chome for sale\u201d<\/b><\/td>\n<\/td>\nUp over 20% from a month earlier (as of March 2)<\/span><\/td>\nUnchanged<\/span><\/td>\nGoogle Trends\u00a0<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Key housing-market data<\/h3>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
U.S. highlights: Four weeks ending March 2, 2025<\/b><\/p>\n

Redfin\u2019s national metrics include data from 400+ U.S. metro areas, and are 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 March 2, 2025<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n
Median sale price<\/b><\/td>\n$379,350<\/span><\/td>\n3.2%<\/span><\/td>\nSmallest increase since September<\/span><\/td>\n<\/tr>\n
Median asking price<\/b><\/td>\n$417,250<\/span><\/td>\n6.4%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median monthly mortgage payment<\/b><\/td>\n$2,772 at a 6.76% mortgage rate<\/span><\/td>\n5.3%<\/span><\/td>\n$26 shy of all-time high<\/span><\/td>\n<\/tr>\n
Pending sales<\/b><\/td>\n75,172<\/span><\/td>\n-6.4%<\/span><\/td>\nBiggest decline in over a year, except the 4 weeks ending Jan. 19 and the 4 weeks ending Jan. 26, which both posted 6.6% declines<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\n84,464<\/span><\/td>\n2.4%<\/span><\/td>\n<\/td>\n<\/tr>\n
Active listings<\/b><\/td>\n918,795<\/span><\/td>\n9.8%<\/span><\/td>\nSmallest increase in a year<\/span><\/td>\n<\/tr>\n
Months of supply\u00a0<\/b><\/td>\n4.4<\/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>\n33.4%<\/span><\/td>\nDown from 38%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median days on market<\/b><\/td>\n55<\/span><\/td>\n+8 days; near longest span since March 2020<\/span><\/td>\n<\/td>\n<\/tr>\n
Share of homes sold above list price<\/b><\/td>\n22.4%<\/span><\/td>\nDown from 24%<\/span><\/td>\n<\/td>\n<\/tr>\n
Average sale-to-list price ratio\u00a0<\/b><\/td>\n98.2%<\/span><\/td>\nDown from 98.5%<\/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 March 2, 2025<\/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>\nMetros with biggest year-over-year decreases<\/b><\/th>\n\n

Notes<\/b><\/p>\n<\/th>\n<\/tr>\n

Median sale price<\/b><\/th>\nMilwaukee (16.2%)<\/span><\/p>\n

Nassau County, NY (12%)<\/span><\/p>\n

Cleveland (10.7%)<\/span><\/p>\n

Pittsburgh (9.4%)<\/span><\/p>\n

Anaheim, CA (9.3%)<\/span><\/th>\n

Austin, TX (-4%)<\/span><\/p>\n

Tampa, FL (-1.3%)<\/span><\/p>\n

Atlanta (-1.3%)<\/span><\/p>\n

Jacksonville, FL (-1.2%)<\/span><\/p>\n

San Antonio (-1%)<\/span><\/p>\n

Houston (-0.6%)<\/span><\/p>\n

Fort Worth, TX (-0.2%)<\/span><\/th>\n

\n

Declined in 7 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n

Pending sales<\/b><\/td>\nLos Angeles (8.5%)<\/span><\/p>\n

Anaheim, CA (6.3%)<\/span><\/p>\n

Phoenix (3%)<\/span><\/p>\n

Riverside, CA (1.3%)<\/span>
\n<\/span>Columbus, OH (1.1%)<\/span><\/p>\n

Sacramento, CA (0.4%)<\/span><\/td>\n

Atlanta (-16.3%)<\/span><\/p>\n

Miami (-16.2%)<\/span><\/p>\n

Houston (-15%)<\/span><\/p>\n

Jacksonville, FL (-14.5%)<\/span><\/p>\n

Minneapolis (-13.6%)<\/span><\/td>\n

Increased in 6 metros<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\nPhoenix (27.1%)<\/span><\/p>\n

Sacramento, CA (27%)<\/span><\/p>\n

Anaheim, CA (20.1%)<\/span><\/p>\n

Los Angeles (20.1%)<\/span><\/p>\n

San Diego\u00a0 (20.1%)<\/span><\/td>\n

Detroit (-20.7%)<\/span><\/p>\n

Warren, MI (-12.1%)<\/span><\/p>\n

Fort Worth, TX (-11.1%)<\/span><\/p>\n

Portland, OR (-10.8%)<\/span><\/p>\n

Newark, NJ (-10.3%)<\/span><\/td>\n

Increased in roughly half the 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":"

Mortgage rates dipped to their lowest level in nearly three months this week, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing. Pending U.S. home sales fell 6.4% from a year earlier during the four weeks ending March 2, the second-biggest […]<\/p>\n","protected":false},"author":13153,"featured_media":79414,"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-79401","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":"\nPending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers<\/title>\n<meta name=\"description\" content=\"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.\" \/>\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-pending-sales-falling-mortgage-applications-rising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers\" \/>\n<meta property=\"og:description\" content=\"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/\" \/>\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=\"2025-03-06T13:01:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1501\" \/>\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-pending-sales-falling-mortgage-applications-rising\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers\",\"datePublished\":\"2025-03-06T13:01:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/\"},\"wordCount\":973,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg\",\"keywords\":[\"national\",\"weekly market tracker\",\"weekly market update\"],\"articleSection\":[\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/\",\"name\":\"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg\",\"datePublished\":\"2025-03-06T13:01:15+00:00\",\"description\":\"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg\",\"width\":2047,\"height\":1200,\"caption\":\"Photos from the 2024 Premier Direct Mail Campaign\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-pending-sales-falling-mortgage-applications-rising\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers\"}]},{\"@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":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers","description":"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.","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-pending-sales-falling-mortgage-applications-rising\/","og_locale":"en_US","og_type":"article","og_title":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers","og_description":"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.","og_url":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2025-03-06T13:01:15+00:00","og_image":[{"width":2560,"height":1501,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-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-pending-sales-falling-mortgage-applications-rising\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/"},"author":{"name":"Dana Anderson","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b"},"headline":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers","datePublished":"2025-03-06T13:01:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/"},"wordCount":973,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg","keywords":["national","weekly market tracker","weekly market update"],"articleSection":["Housing Market News","Weekly Market Update"],"inLanguage":"en-US","copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/","url":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/","name":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg","datePublished":"2025-03-06T13:01:15+00:00","description":"Mortgage rates have dipped to their lowest level in nearly three months, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/03\/PDM24_Chi_C_27-Shenandoah-Cir_South-Barrington_IL_4_RGB_300-scaled.jpg","width":2047,"height":1200,"caption":"Photos from the 2024 Premier Direct Mail Campaign"},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-falling-mortgage-applications-rising\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers"}]},{"@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\/79401","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=79401"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/79401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/79414"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=79401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=79401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=79401"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=79401"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=79401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}