Economic Jitters, High Costs Stifle Spring Home Sales
New listings are still rising, allowing some buyers to get deals.| Redfin Real Estate News
New listings are still rising, allowing some buyers to get deals.| Redfin Real Estate News
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
With new listings rising and pending sales declining, Redfin agents suggest sellers set their asking price fairly from the start to attract buyers and avoid price drops.| Redfin Real Estate News
The median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down more than $200 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.| Redfin Real Estate News
Pending home sales and mortgage applications improved a bit at the start of April. But since then, the back-and-forth on President Trump’s new tariff policy, rising mortgage rates and the increased odds of a recession have likely pushed down homebuying sentiment.| 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
U.S. home prices are growing half as fast as they were at the end of last year.| Redfin Real Estate News
