Housing Market

Demand for Vacation Homes Fell for Second Consecutive Month in July

Primary residence mortgage locks fell for the first time in over two years. Demand for second homes fell 21% year over year in July, the second consecutive month of annual declines in mortgage-purchase locks. This followed 13 months of surging activity in second-home purchases. Demand for primary home purchases fell by 4% year over year […]
Bidding Wars

Homebuyer Bidding-War Rate Drops to Lowest Level Since January

60% of offers written by Redfin agents faced competition in July, down from 67% in June. Competition is still more intense than it was a year ago. July’s slowdown comes amid a broader cooling in the housing market, which is being driven by an increase in supply. A drop-off in migration from major cities including […]
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