Redfin: Q4 New Home Sales Up 8.8 Percent

Feb 11, 2020

New home sales during the fourth quarter recorded an 8.8 percent year-over-year, the biggest gain in more than two years and the third consecutive quarter of increases, according to new data from Redfin.

While sales were up, inventory went in the opposite direction: the 11.1 percent year-over-year decline was the largest decrease since 2012 and marked the third straight quarter of declines.

National sale prices of new homes were also down, dipping by 0.3 percent from one year ago to a median of $369,900 in the fourth quarter, which marked the smallest drop out of the past three consecutive quarters of declines.

“The market has seen a mismatch between where new construction of homes are needed the most and where new homes are being built, and that's because builders are focused on areas where they can cheaply acquire and develop land,” said Redfin Chief Economist Daryl Fairweather.

New home sales during the fourth quarter recorded an 8.8 percent year-over-year, the biggest gain in more than two years and the third consecutive quarter of increases

About the author

Phil Hall

Link copied

Published

Feb 11, 2020

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Houston, TX

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026