Fierce competition continues to drive home prices up, but home tours, offers and pending sales have slowed, according to a new report from Redfin, Seattle.
Tag: Redfin
Industry Briefs June 18, 2021
Fannie Mae, Washington, D.C., said economic growth expectations for full-year 2021 were revised modestly upward to 7.1 percent, one-tenth higher than the previous forecast, due to stronger-than-expected consumer spending data year to date.
More than Half of Homes Selling Above List Price
The national median home-sale price hit a record high $377,200 in May, up 26% year over year, reported Redfin, Seattle.
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.
Industry Briefs June 15, 2021
The Federal Housing Finance Agency issued a Request for Input on executive compensation at its regulated entities: Fannie Mae and Freddie Mac and the Federal Home Loan Banks.
Despite Risk, Homes in High-Flood Areas Flying Off the (Continental) Shelves
Hurricane seasons and climate change are threatening to redraw coastal U.S. maps. But it’s not stopping homebuyers from chasing down waterfront properties.
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.
Industry Briefs June 4, 2021
Zillow, Seattle, said Asian-headed households in the U.S. grew by 83% in the past two decades, far exceeding Latinx, Black, and white household growth. But that broad success masks major challenges to homeownership in the highly diverse community.
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.
One-Third of Millennial Homebuyers Using Extra Savings from Pandemic for Down Payment
For nearly one-third (31%) of millennial first-time homebuyers, the ability to save extra money during the coronavirus pandemic helped them accumulate the money needed for a down payment, said Redfin, Seattle.