Redfin: Home Sales Post First Annual Decline in 15 Months

Redfin, Seattle, reported home sales fell on a monthly and annual basis in August for the first time since May 2020, although home prices continued to rise at a double-digit annual pace.

Home Prices Up 15% from Year Ago, But Taking Longer to Sell

Yet another report this week shows U.S. home prices with double-digit percentage annual home price gains, although not nearly as dramatic as earlier reports. And, said Redfin, Seattle, pending sales are slowing and homes are taking longer to sell—and sellers are taking notice by slashing their asking prices.

Redfin: 12 Straight Months of Double-Digit Home Price Increases

Redfin, Seattle, said the median price of homes sold in July jumped by nearly 20% from a year earlier to a record high $385,600, down from a peak of 26% in May but still higher than any point on record prior to April of this year.

Prices of Most, Least Expensive U.S. Homes Surge Fastest

Redfin, Seattle, reported luxury home prices soared 26 percent year-over-year in the second quarter, while prices of the most affordable homes grew 19 percent. Both segments outpaced the rest of the market.

Prices of Most, Least Expensive U.S. Homes Surge Fastest

Redfin, Seattle, reported luxury home prices soared 26 percent year-over-year in the second quarter, while prices of the most affordable homes grew 19 percent. Both segments outpaced the rest of the market.

Demand For Vacation Homes Falls for First Time in a Year

Redfin, Seattle, said buyers who locked in mortgage rates to purchase a second home nationwide fell 11.1% year over year in June, a reversal from the yearlong surge in demand for vacation homes driven by the pandemic.

Redfin: 7 in 10 Buyers Still Face Bidding Wars

Redfin, Seattle, said 70.4% of home offers written by Redfin agents faced competition in May, down from 73.6% in April, but still up significantly from 52.7% a year ago.

Redfin: Relief from Red-Hot Market May Be on Way

Redfin, Seattle, said asking prices leveled off as pending sales–which were rising at this time in 2019–posted a 3% monthly decline. Homes still sold for record prices, at record speeds.