Analysis and Data

That figure is up from the previous estimate of 2.8%, according to the Bureau of Economic Analysis.

Residential loans increased 23% quarterly, but total residential lending activity is down 1.6% from Q2 2023 and down 61.2% from 2021's peak.

The typical homebuyer’s down payment was 18.6% of the purchase price in June, the highest level in over a decade

Refinance applications up 85% year-over-year

Despite year over year increases in all nine Census divisions, price appreciation is slowing overall

Consumer credit utilization decreased to 51.6% down from the prior month, hitting a new four-year low.

Maxwell reported the share of HELOCs rose 31% quarterly and 61% year over year to comprise 3.88% of the second-quarter market.

Redfin analysts theorize that pending sales for starter homes have strengthened due to easing mortgage rates

New-home sales from January through July rose 2.6% compared to the first seven months of 2023

Redfin’s Homebuyer Demand Index — which measures requests for tours and other buying services — has risen 4% over the last week.