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Tag Archives: median days on market

Austin’s Housing Fortunes Flip

Once known for its speed and red-hot market, Austin, Texas, is now one of the slowest housing markets in the U.S. A new Redfin report examines the factors in play.

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Rising Home Prices Fueled by Ongoing Supply Shortage

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.

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Mortgage Rates Soar to 22-Year High

While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.

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Pending Home Sales Improve Over Recent Lows

“Fading recession fears and the prospect of further home price increases have brought some house hunters off the sidelines, but for the most part, buyers remain hesitant to jump into the market because their buying power is so much lower than it was a year ago,” said Redfin Chief Economist Daryl Fairweather.

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