Tag Archives: New listings of homes

The supply of homes for sale posted a record year-over-year increase in December, according to new data from Redfin's Homebuyer Demand Index, which showed an increasing rise in demand despite many homes lingering on the market due to rising mortgage rates.

While home prices remain elevated due to low supply, mortgage rates shot up to a 15-year high resulting in homebuyers losing nearly 30% of their purchasing power since rates reached their lowest point in 2021.