Tag Archives: Net New Listings

“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.

“There’s a fair amount of demand for lower-priced single-family homes, which in this area means around $400,000 and under,” said Redfin Premier Agent Brynn Rea.

This number is just above recorded lows set in January 2023.

“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.

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

While declining demand led to a nearly 20% decrease in new listing volumes in September, the volume of price drops is up 83.2% compared to the same time last year. Click through to learn more from HouseCanary's latest Market Pulse report.