Buyers backed off amid high mortgage rates and economic uncertainty. New listings were also down, with some prospective sellers staying put as price growth slowed. Home sales dropped 19.3% year over year in July to their lowest level since the beginning of the pandemic, when the housing market was at a near standstill. That’s also […]
A number of metrics that reflect a cooling market are now leveling off—among them, housing supply and the share of sellers slashing their list prices—as would-be sellers back away in response to dampened homebuyer demand. The housing-market slowdown is starting to slow down. Fewer homeowners are listing their homes due to ebbing homebuyer demand. That’s […]
Investors scooped up more homes in the second quarter than before the pandemic, but purchases leveled off from their 2021 peak as investors reacted to the slowing housing market in different ways. Some took advantage of cooling competition and elevated rental demand, while others pressed pause in hopes of lower prices and more economic certainty […]
About 63,000 home-purchase agreements were called off in July, equal to 16% of homes that went under contract that month. That’s the highest rate in more than two years. Nationwide, roughly 63,000 home-purchase agreements fell through in July, equal to 16.1% of homes that went under contract that month. That’s the highest percentage on record […]
Higher mortgage rates and home prices are pushing some house hunters out of the market, leaving those who remain with more options and negotiating power. Nationwide, 44.3% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8% […]