Analysis and Data
Lack of inventory, declining housing affordability cited most often.
Index fell 2% in August from July, and is down 24.2% year over year.
Redfin says a house hunter looking for a $500,000 home saw their potential total mortgage payment decrease $64,000 from July to August, but jump up $118,000 from August to September.
After rising nearly 4% the previous week, applications fell nearly 4% last week as interest rates rose.
Sales increase nearly 29% from July, but the estimate may be inflated by lag in contract cancellations.
First American report states that, a year ago, only four markets were considered overvalued.
Justin Bird joins the firm from Black Knight.
Both the FHFA House Price Index and the S&P CoreLogic Case-Shiller Index reported declining housing prices nationwide.
Redfin reports that nine of the 10 housing markets holding up best are either in the Midwest or on the East Coast.
Foreclosure starts had a 15% jump in activity from July but remain 44% below pre-pandemic levels.