Housing Market
All Reports
Housing Market Update: More People Are Touring Homes, But That Hasn’t Yet Translated to More Sales
February 1, 2024
Redfin’s Homebuyer Demand Index, which measures requests for home tours and other services from Redfin agents, is ticking up as the spring home-selling season draws nearer. That hasn’t yet converted to a meaningful improvement in pending sales–but Redfin agents expect it will in the next few months. Some house hunters are dipping their toes back […]
January 31, 2024
Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023, Â partly because elevated mortgage rates are irrelevant to many affluent buyers. Low inventory is another factor driving prices up: Even though luxury new listings rose, overall supply is still below pre-pandemic norms. The typical U.S. luxury home […]
January 29, 2024
Buyers can afford a more expensive home now that mortgage rates have dropped to 6.7%, down from nearly 8% in October. Redfin economists don’t expect rates to rise or decline significantly in the foreseeable future. A homebuyer on a $3,000 monthly budget can afford a $453,000 home with a 6.7% mortgage rate, roughly this week’s […]
January 25, 2024
Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6% range, down from 8% a few months ago. The median U.S. home-sale price rose 5.1% during the four weeks ending January 21, the biggest increase […]
January 23, 2024
High mortgage rates and an uptick in housing supply took some pressure off price growth, but prices aren’t falling because there’s still a shortage of homes for sale. Overall, price growth appears to be returning to pre-pandemic levels. U.S. home prices climbed 0.4% month over month in December, the smallest increase since June. December represented […]
