Tag Archives: Price Declines

Record-high mortgage payments continue to motivate sellers to lower asking prices to attract more buyers, as a new Redfin report revealed the average homebuyer’s monthly housing payment is up nearly 9% year-over-year, reaching a new all-time high.

While rents for one-bedroom units experienced their first year-over-year decline since 2020, prices remain 24.1% higher than 2019. However, Realtor.com’s June 2023 Rental Report predicts slowing inflation throughout the remainder of the year and continued financial relief for renters' budgets.

A new report from NAR shows existing-home sales dipped 3.3% from May, while the median existing-home price for all housing types reached its second-highest mark of all time in June.

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.

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.

While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.

As high mortgage rates and inflated home prices persist, a new report from the Mortgage Bankers Association revealed the national median payment applied for by purchase applicants increased nearly 5% in February.

According to a new Zillow survey, starting next year, experts foresee price growth picking back up at an average clip of 3.5% per year through 2027.

According to the latest market report from ShowingTime, homebuyer foot traffic and in-person showings decreased from September, as rising rates and inventory challenges continue to discourage buyers from purchasing a home.