Redfin: Sellers Backing Off As Prices Fall & Mortgage Rates Surge
With new home listings falling 15% annually, sellers are reluctant to list their homes as they have begun to see prices come down.
Tagged: Redfin
July Home Sales Dropped 19.3% YOY
Home prices increased at their slowest pace since June 2020, rising 7.7%
Housing Market Slowdown Starting To Slow
Redfin says a number of metrics that reflect a cooling market are now leveling off.
Investor Purchases Plateau, But Remain Well Above Pre-Pandemic Levels
In dollar terms, home investing up over 10% year over year.
Redfin: More Homebuyers Backing Out Of Deals
About 16% of home-purchase agreements called off in July, highest rate in 2 years.
Growing Housing Inventory Dampens Competition: Redfin
While new listings dropped 12%, overall housing supply is growing, giving buyers more choices.
Redfin: Share Of Relocating Buyers At All-Time High In July
People are looking for less expensive and better lifestyles.