Tag Archives: Housing Market Update

Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.

U.S. home prices experienced the biggest increase in 10 months due in part to a significant lack of inventory, increasing 5% year-over-year. Meanwhile, homes in the popular Miami metro surged 17% from last year.

Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.

A majority of homebuyers polled in a recent survey reported post-purchase regrets, according to a new report from Clever Real Estate. Click through for a look at the sentiments and specifics from this survey.

Monthly housing payments have reached a record-high of $2,614, as mortgage rates climbed to 7.12%, pricing out many homebuyers with tight budgets, according to Redfin.

While spring is typically a hot homebuying season, new listings of homes for sale dropped 19% year-over-year in May, according to a new report from Redfin, leaving homebuyers circling an even smaller pool of listings.