Tag Archives: pending sales

Due to a significant lack of homes for sale, the median U.S. home-sale price is down 0.9% year-over-year, according to a new housing market update from Redfin, representing the smallest decline in nearly four months.

According to a new report from the National Association of Realtors, pending home sales slipped nearly 3% in May, while contract signings jumped in the Northeast but decreased month-over-month in three major U.S. regions.

Annually, new listings of homes for sale dropped nearly 26%, falling below their previous pandemic lows, according to Realtor.com.

According to a new report from Redfin, near-7% mortgage rates continue to prevent both would-be homebuyers and potential home sellers from entering the market, despite the construction of new single-family homes nearing their highest level in almost 20 years.

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.

Pending home sales are down nearly 20%, representing the biggest decline in over four months, but people are still showing interest in homebuying despite the total number of U.S. homes for sale declining 6% from last June.

As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.

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.

According to Fannie Mae's Economic and Strategic Research Group expectations for Q1, the increase in the sales pace from the end of 2022 to the beginning of 2023 revealed that homebuying demand remains buoyant and was unexpectedly responsive to small declines in mortgage rates.