Tagged: Pending Home Sales

Sellers are cutting asking prices, but near-record monthly payments continue to squeeze buyers and limit purchase demand

Redfin reports a record seller surplus and the highest contract cancellation share since early 2020, leaving loan officers with fewer purchase opportunities despite buyers’ growing negotiating power

Pending listings turned negative in August despite more inventory, lower asking prices, and sellers remaining open to negotiation

Pending sales fell to a six-month low as inventory increased, giving originators more room to use seller concessions to make difficult purchase deals work

Contract signings fell in every region during July, leaving purchase activity 30% below its 2019 level despite a larger workforce

July sales declined 4.1% as affordability squeezed buyers nationally, builder competition slowed Texas markets, and job insecurity weakened demand in Seattle

One in five listings had a price reduction in July, while pending sales increased for the eighth consecutive month

Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers

Contract signings fell 5.4% from May as elevated borrowing costs and record home prices continued to pressure affordability, particularly for first-time buyers

Redfin says a brief drop in mortgage rates lifted pending home sales to a two-month high, but rising rates and tighter inventory could test whether the momentum lasts