New listings are still in short supply, falling 21.8% from last year.
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Category: redfin
Redfin: Seller concessions on the rise again
Increased mortgage rates have sidelined many would-be buyers, allowing inventory levels to increase. As a result, buyers can now “shop around” more than during the peak of the pandemic, putting the burden of concessions back on sellers.
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High mortgage rates make million-dollar homes less common
As rising mortgage rates cool the market, the share of U.S. homes worth at least $1 million has fallen from an all-time high last year.
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Report: Average home changes hands every 12 years
People staying in their homes longer is contributing to the lack of inventory that continues to impact buyers.
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Decreasing mortgage rates mean buyers and sellers are returning to the market
Homebuyers can now afford $400,000 homes with $2,500 monthly budgets for the first time in four months, according to a new report from Redfin.
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Redfin: Housing market has started to recover
Homebuyers are returning, but sellers still aren’t filling the need as inventory remains low.
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Home sales improve as more buyers return to the market
Homebuyer demand is rising, as mortgage applications rose 28% since November, and more prospective buyers are scheduling home tours.
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Home prices increase as falling mortgage rates attract buyers
More buyers have entered the market in the past four weeks as mortgage rates fell.
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Pending home sales drop to lowest level in seven years
Redfin attributes the drop to the record high mortgage rates, recession concerns, record low inventory, extreme winter weather and the holiday slowdown.
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Buyer concessions make a comeback in the fourth quarter
A record share of sellers are giving buyers concessions including money for repairs and mortgage-rate buydowns.
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