Many prospective homebuyers are sidelined by near-record costs and economic uncertainty, creating a buyer’s market in many parts of the country. That’s deterring some would-be sellers. New listings of U.S. homes for sale rose 6.3% year over year during the four weeks ending June 1, one of the smallest increases of the last three months. […]
More than $330 billion worth of listings have been sitting on the market for 60 days or longer. Rising inventory and slow homebuying demand is pushing up the total dollar amount of home listings, and will push down home-sale prices by the end of the year. There’s a total of $698 billion worth of homes […]
The median monthly U.S. mortgage payment is just $25 shy of its record high, sidelining would-be buyers. But the tide is turning for buyers: Redfin economists expect home prices to decline by the end of the year, and a surplus of listings is motivating sellers to negotiate. The median monthly mortgage payment nationwide was $2,860 […]
There are 34% more sellers in the market than buyers. At no other point in records dating back to 2013 have sellers outnumbered buyers this much. In other words, it’s a buyer’s market. Redfin expects home prices to drop 1% by the end of the year as a result. Prospective buyers may see their purchasing […]
Investor purchases of U.S. homes rose 2% year over year in the first quarter. Investor activity has been fairly stable for the past two years, after the wild up-and-down swings of the pandemic era. Investor purchases of condos fell 3% year over year to the lowest level in 10 years, aside from Q2 2020. […]
The typical U.S. luxury home sold for $1,348,065 in April, up 6.5% from a year earlier, but down slightly from the record high set in March. Economic uncertainty is pushing high-end buyers to the sidelines, with pending sales of luxury homes down 9.9% year over year. That is the largest annual decline since August 2023 […]