Ahead of Friday's speech, futures markets had priced in about a 75% chance of a rate cut at the next Fed meeting, but Chair Powell’s speech will lead to falling mortgage rates as bond market investors will now fully price in a September 17 rate cut.| Redfin Real Estate News
Some sellers are reacting by, well, not selling; active listings posted the largest monthly drop since 2023.| Redfin Real Estate News
15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish.| Redfin Real Estate News
U.S. home prices nudged 0.1% lower in July on a seasonally adjusted basis—the third consecutive month that prices posted a monthly decline. On a year-over-year basis, price growth slowed to 2.9%, the lowest rate recorded in Redfin Home Price Index (RHPI) data going back to 2012.| Redfin Real Estate News
