Pending Home Sales Decline Due to High Housing Costs ... - Redfin

Jan 16, 2025 · Home tours and pending sales are falling as devastating wildfires burn in Southern California, extreme cold and snow hit the Northeast, Midwest and South, and housing costs …

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Redfin Reports High Housing Payments Are Slowing Home Sales, …

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5 days ago · Housing costs are high because of rising mortgage rates and home prices: The weekly average mortgage rate is 7.04%, the highest level since May, and the median U.S. …

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Redfin Reports High Housing Payments Are Slowing Home Sales, …

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5 days ago · High housing costs are one factor keeping many would-be homebuyers on the sidelines. Pending home sales are down 10.1% annually, the biggest decline in more than a …

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Redfin Reports Pending Home Sales Decline Due To High Housing …

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Jan 16, 2025 · The housing market is showing concerning signals with the 8.4% year-over-year decline in pending sales - the largest drop since October 2023. This decline, coupled with the …

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Extreme Weather, High Home Prices And The 2025 Housing Market

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Jan 21, 2025 · Pending home sales fell 8.4% year over year, which marked the biggest decline since October 2023. New listings had their biggest annual decline since September 2023, …

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Housing Market Update: Pending Home Sales Drop 13% Year …

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Sep 22, 2023 · Mortgage rates are sitting near a two-decade high and U.S. home prices rose 3% year over year during the four weeks ending September 17, pushing monthly housing …

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High Housing Payments Are Slowing Home Sales, But Buyers …

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5 days ago · High housing costs are one factor keeping many would-be homebuyers on the sidelines. Pending home sales are down 10.1% annually, the biggest decline in more than a …

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Redfin Reports U.S. Home Prices Rose 0.4% In December

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Jan 21, 2025 · Metro-Level Summary: Redfin Home Price Index, December 2024. Fifteen (30%) of the 50 most populous U.S. metro areas recorded a seasonally adjusted drop in home prices …

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New Listings Rise 8%, Giving The New Year’s Buyers More ... - Redfin

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Jan 3, 2025 · Supply increased from a year earlier to close out 2024, while pending home sales posted a small decline as mortgage rates remained near 7%. We’re taking a break from …

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North Bergen Housing Market: House Prices & Trends | Redfin

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The North Bergen, NJ housing market is somewhat competitive, scoring 55 out of 100. The average North Bergen house price was $488K last month, down 5.2% since last year. ... The …

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FAQs about Pending Home Sales Decline Due to High Housing Costs ... - Redfin Coupon?

Are pending home sales falling?

Pending home sales fell 8.4% year over year during the four weeks ending January 12, the biggest decline since October 2023. Prospective sellers are also sitting on the sidelines, with new listings posting their biggest annual decline since September 2023. But there are some pieces of encouraging news for homebuyers and the housing market. ...

What's going on with Redfin's pending home sales?

Pending home sales are down 10.1% annually, the biggest decline in more than a year, and Redfin’s Homebuyer Demand Index—a measure of tours and other buying services from Redfin agents—is near its lowest level since June. Homes are also selling relatively slowly. The average home is selling in 52 days, the longest span in two years. ...

Why are pending sales declining?

For now, high housing costs are one reason pending sales are declining. Many would-be buyers are priced out, with the median housing payment nationwide sitting at its highest level in over two months. ...

What happened to pending home sales in 2023?

(Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) / Getty Images) Pending home sales fell 8.4% year over year, which marked the biggest decline since October 2023. New listings had their biggest annual decline since September 2023, falling 3.6% on an annual basis. ...

What happened to Redfin's homebuyer Demand Index?

Redfin's Homebuyer Demand Index, which is a seasonally adjusted measure of tours and requests for other buying services from Redfin agents, has fallen 11% month over month, notching its lowest level since August. A for sale sign is displayed outside a home for sale on Aug. 16, 2024, in Los Angeles, California. ...

Are home tours and pending sales falling?

SEATTLE, January 16, 2025-- (NASDAQ: RDFN) — Home tours and pending sales are falling as devastating wildfires burn in Southern California, extreme cold and snow hit the Northeast, Midwest and South, and housing costs rise across the country. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. ...