Redfin, Seattle, said elevated mortgage rates continue to prompt many homeowners to stay put, resulting in bidding wars as buyers compete for a small pool of homes.
Tag: Redfin
Industry Briefs May 4, 2023: Peak Residential Lending Partners with LenderLogix
LenderLogix, Buffalo, N.Y., announced Peak Residential Lending implemented its application suite – LiteSpeed, QuickQual and Fee Chaser – into its existing tech stack to power a digital borrower experience.
Out-of-Town Moves Remain Popular as High Housing Costs Push Homebuyers to More Affordable Areas
Redfin.com home searchers looking to relocate to a new metro fell by 4.2% from a year earlier in the first quarter, compared to a 15.6% drop for those looking to move within their current metro. Those are the biggest drops in Redfin’s records, which go back through 2018.
Housing Market Roundup Apr. 24, 2023
Here is a summary of housing market reports that have come across the MBA NewsLink desk:
Redfin: Home Prices See Sharpest Monthly Drop in Decade
Redfin, Seattle, reported the median U.S. home price fell 3.3% in March to $400,528, the largest year-over-year drop since 2012.
New Listings of Home for Sale Down 25% from Year Ago
Redfin, Seattle, reported new listings of U.S. homes for sale dropped 25% from a year earlier during the four weeks ending April 9, continuing an eight-month streak of double-digit declines.
Apartment Rents Post First Annual Decline in Three Years
The median U.S. apartment asking rent fell slightly in March and the rental component of the Consumer Price Index has leveled off, two new reports said.
Housing Market Roundup, Apr. 11, 2023
Here is a quick summary of housing market stories that have recently come across the MBA NewsLink desk:
Redfin: February Relocation Numbers Fall
Redfin, Seattle, reported fewer homeowners are looking to relocate, but higher mortgage rates aren’t the culprit.
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.