Housing Market

Weekly Market Update

More Home Sellers Test the Market, But Buyers Aren’t Budging

Pending home sales are declining, with some house hunters waiting for mortgage rates to drop lower and some feeling jittery about the economy. New listings of U.S. homes for sale rose 2.3% year over year during the four weeks ending October 5, the biggest increase in over three months. Some sellers listed their homes in […]
Affordability

Homebuyers Are Canceling Deals at a Record Rate. Here’s Why.

Roughly 56,000 U.S. home-purchase agreements were canceled in August, equal to 15.1% of homes that went under contract that month—the highest August percentage in records dating back to 2017. Buyers frequently back out of deals when they find issues during the inspection, they have trouble selling their existing home or their financing falls through, according […]

There Are 72% More Condo Sellers Than Buyers in the U.S.

Would-be condo buyers are spooked by high costs, including rising HOA dues and insurance fees–but the silver lining is bargaining power. The gap between sellers and buyers has shrunk since springtime, though, when there were 81% more sellers.  There were an estimated 72.3% more condo sellers than buyers (108,945 more) nationwide in August. That marks […]

Home Sellers Are Cutting Prices at a Record Rate to Lure Skittish Buyers

The typical home that sold in August went for nearly 4% under its asking price–the steepest discount for that month since 2019.  One of every six (16.7%) U.S. home sellers dropped their asking price in August, up from 15.9% a year earlier and the highest share for that month in records dating back to 2012.  […]
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