Skip to main content

Redfin: Home Sales and Prices Up in July

Phil Hall
Aug 17, 2018
Home prices during September increased nationally by 3.5 percent from one year earlier and were also up by 0.4 percent from August

Home sale prices during July recorded a 5.3 percent annualized increase to a median of $307,400, according to data from Redfin. However, this represented the lowest growth rate level in nearly two years. Meanwhile, homes sales rose by 4.1 percent year-over-year, despite lingering inventory shortages.
The number of homes for sale in July was down 5.4 percent from one year ago, which marks the third month of supply declines around five percent following 19 months of inventory declines of over seven percent. Homes that sold in July went under contract in a median 35 days, three days faster than last year but one day slower than in June.
For the first time since March 2015, the share of homes that sold above asking price declined year-over-year, from 26.5 in July 2017 to 26.2 percent last month. Twenty-eight percent of homes on the market in July saw a drop in their price, drop, the largest share on record since Redfin began tracking this metric in 2009, and a 3.2 percentage-point increase over last July.
“After several years of shrinking inventory and unsustainable price growth, I'm encouraged by these changes as a signal that we may be returning to a healthier, more balanced market,” said Taylor Marr, Redfin Senior Economist.
Home sale prices during July recorded a 5.3 percent annualized increase to a median of $307,400, according to data from Redfin

Aug 17, 2018
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021