Tag Archives: Active listings

While a slight increase in new listings offers potential buyers more housing inventory to choose from, Redfin has found that many are backing out of the market, as mortgage rates sit near levels last seen two decades ago.

As mortgage rates remain elevated, a new market report from Redfin revealed the typical homebuyer’s monthly payment is now at a record high of $2,666, representing a near 9% year-over-year change as housing costs continue to rise nationwide.

While mortgage-purchase applications fell to a 28-year low in August, the median U.S. home-sale price is up nearly 5% year-over-year. Due to a severe lack of inventory, high housing costs continue to dampen homebuying demand, according to a new report from Redfin.

The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated.

Realtor.com reports that after four months of slowing inventory growth, active listings declined annually in July for the first time in more than a year.

Today, a monthly budget of $3,000 can afford a home valued at $450,000—a far cry from the $510,000 home it could have purchased a year ago.

As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.

With nearly 26% fewer homes newly listed for sale compared to last year, active inventory slowed for the fourth month in a row, according to the Realtor.com Monthly Housing Trends Report for June.

Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.

Across the U.S., there are nearly 40% fewer homes for sale compared to pre-pandemic norms, as new listings dropped an overall 23% from last June, according to Redfin’s Homebuyer Demand Index.