Matt Purdy is an experienced Redfin real estate agent. Discover their reviews, listings, and bio on Redfin.| www.redfin.com
The median monthly mortgage payment is just $25 shy of its record high, sidelining would-be buyers. But the tide is turning for buyers: Redfin economists expect home prices to decline by the end of the year, and a surplus of listings is motivating sellers to negotiate.| Redfin Real Estate News
Housing supply fell to a new low in December, fueling a 3.6% month-over-month drop in home sales.| Redfin Real Estate News
At no other point on record have sellers outnumbered buyers this much. Home prices will likely fall as a result.| Redfin Real Estate News
1 in 7 deals fell through last month. The share was higher in much of Florida—home to 5 of the 10 metros with the highest cancellation rates.| Redfin Real Estate News
Mortgage rates are forecasted to stay elevated near 7%.| Redfin Real Estate News
Would-be buyers are sidelined by record-high housing costs and economic instability, allowing inventory to pile up.| Redfin Real Estate News
The jump in housing supply put downward pressure on prices, which grew at the slowest pace in nearly two years last month.| Redfin Real Estate News
Mortgage Rates to Fall a Little After Weak Jobs Report, But All Eyes on Election | Redfin Real Estate News