Both Redfin and Realtor.com's September 2024 reports highlight the impact of falling mortgage rates on buyer demand and seller activity
Tagged: Pending Home Sales
Pending home sales rose modestly in August by 0.6%
Redfin reported sales of existing homes fell 3.1% year over year in August; Fannie Mae's September 2024 commentary anticipates the annual pace to be the slowest since 1995
Applications remained unchanged from July, but estimated new home sales increased almost 15% over the month, said the MBA.
Contract signings down in all four U.S. regions
Redfin analysts theorize that pending sales for starter homes have strengthened due to easing mortgage rates
Inventory is getting stale, agents say, due to continued high rates, payments
June sales data from NAR shows pending sales 4.8% higher than May
The median U.S. home-sale price hit a record $387,600 during the four weeks ending May 19
High home prices and interest rates keep buyers and sellers stagnant, Redfin reports.