Tag Archives: median days on market

Bidding wars, a trend that rose to record levels during the pandemic, are back due to lack of inventory, meaning that homes sold in May typically went for more than their list price.

“Weakening home price growth for the past 12 months is increasing the odds that we may not see a new home price peak this year, for the first time in the history of our listing data, which dates back to mid-2016, and this is likely welcome news to homeshoppers," said Danielle Hale, Chief Economist for Realtor.com.

“The collapse of three banks in March coupled with additional rate hikes from the Fed could have significant implications for mortgage rates heading into the spring buying season,” said Jeremy Sicklick.

“Homebuyers are starting to feel more confident as mortgage rates tick down closer to 6% than 7% and the overall economy chugs along with surprising resilience, especially in the labor market. Steadily cooling inflation is likely to prevent mortgage rates from jumping back up,” said Redfin Economics Research Lead Chen Zhao.

Currently standing at 96.8%, the number of homes listed versus those for sale was the lowest reported since Q1 of 2019.