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Tag Archives: Price Drops

Price Increases Complicating the Homebuying Process

While the average U.S. state experienced more than a 3% increase in home prices last year, a new study from the New Jersey Real Estate Network revealed the states where prices rose the highest in 2023 and how it affected prospective homebuyers.

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Mortgage Payments Dip as Lock-In Effect Eases

More home sellers are listing their homes in the New Year, according to a new Redfin report, as mortgage applications tick upwards from last year’s levels while monthly housing payments decline from their all-time high recorded in October 2023.

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Rising Home Prices Fueled by Ongoing Supply Shortage

Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.

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Median Home-Sale Price Down YoY

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.

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