Tag Archives: median asking price

With mortgage rates recently declining, demand has shown early indications of increasing, according to Redfin’s most recent Homebuyer Demand Index.

Affordability issues are officially taking a toll on the market as the average asking price of a newly listed home is off 1.5% from its peak in spring in light of the rapid rate increase by the Federal Reserve in June.  ...

Homebuyers are beginning to take back the wheel from homesellers, who have mostly prevailed over the last two years. Redfin reports that more sellers are dropping the price of their homes amid rising interest rates and growing affordability concerns.

Active listings fell 29% year-over-year, dropping to an all-time low of 440,000, while listings were down 50% from the same period in 2020.