
Housing Market Update: Demand For Mortgages Ticks Up As Rates Drop Amid Banking Turmoil
Whether more buyers return to the market depends largely on how the Fed reacts to unrest in the banking industry alongside persistent inflation. If the
As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.

Whether more buyers return to the market depends largely on how the Fed reacts to unrest in the banking industry alongside persistent inflation. If the

Many homebuyers and sellers have backed off as persistent inflation and mixed economic signals send mortgage rates up. But for people who are moving now,

Elevated mortgage rates, along with prices that remain high–despite posting a 1% annual drop– pushed monthly housing payments to a record high of nearly $2,600.

The share of U.S. homes worth at least $1 million has fallen to 7% from 8.6% last June as the housing market cools. Just over

The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more

Homeowner tenure is down slightly from the peak reached in 2020, but it has nearly doubled over the last couple decades, contributing to the lack

Whether more buyers return to the market depends largely on how the Fed reacts to unrest in the banking industry alongside persistent inflation. If the

Many homebuyers and sellers have backed off as persistent inflation and mixed economic signals send mortgage rates up. But for people who are moving now,

Elevated mortgage rates, along with prices that remain high–despite posting a 1% annual drop– pushed monthly housing payments to a record high of nearly $2,600.

The share of U.S. homes worth at least $1 million has fallen to 7% from 8.6% last June as the housing market cools. Just over

The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more

Homeowner tenure is down slightly from the peak reached in 2020, but it has nearly doubled over the last couple decades, contributing to the lack