Redfin, Seattle, said fewer homes are selling than usual this spring—but the ones that are changing hands are going fast, with a small pool of buyers circling an even smaller pool of listings.
Tag: Home Sales
Redfin: Spring Home Season Off to Mixed Start
Two reports from Redfin, Seattle, suggest the spring home buying/selling season could be hamstrung by cooling home prices and a usual suspect: not enough housing inventory.
MBA Chart of the Week: New, Existing Home Sales
We are forecasting a weak start to 2023 for the housing market. Driven by a recession in the first half of the year and a continuation of the trends outlined above, we expect a 13% drop in existing home sales and a 4% decrease in new home sales for 2023, following 16% decreases in both segments in 2022.
Sellers Increasingly Reluctant to List Homes; Investors Stepping Up
Redfin, Seattle, said would-be sellers are reluctant to list their homes as they have begun to see prices come down. With few new listings, buyers’ newfound bargaining power is reaching its limit, especially now that demand has stabilized.
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.
High-End Home Sales Twice as Fast as Mid-Range Homes
High-end home purchases U.S. jumped by 26% year over year during the three months ending April 30, compared to a 17.8% gain in purchases of affordable homes and a 14.8% increase in purchases of mid-priced homes, reported Redfin, Seattle.
New Home Sellers Join Market as High Demand Persists
The high buyer demand/rising prices drumbeat kept its rhythm into September as buyers scooped houses off the market at record rates, said Zillow, Seattle.
MBA Chart of the Week: Home Sales and Purchase Applications
As the U.S. economy works its way through the current pandemic and recession, housing has been a clear bright spot in an otherwise dire time. This week’s chart highlights the “V” shaped recovery exhibited by various measures of housing health.
RE/MAX: July Home Sales Show Reversal of Pandemic Slowdown
Despite a limited supply of homes for sale across most metros in the U.S., July home sales continued a recent month-over-month incline, said RE/MAX, Denver.
Record Share of Homebuyers Make Sight-Unseen Offers
Redfin, Seattle, said nearly half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015.