Popular on EntSun
- Electives Appoints DraftKings' CPO Linda Aiello to Board Amid Record Quarter - 192
- Mission 3A Establishes Healthcare Advisory Board with Addition of Industry Leaders Patrick Fisher, Kevin Cordell, and Dr. Greg Berlet - 179
- Retirement Income Specialist Daniel Rondberg Joins Tom Hegna on the Exciting New Season of "Financial Freedom with Tom Hegna" - 145
- OpsVeda Announces Launch of TariffSight, the World's First Comprehensive Platform to Address Tariff-Driven Challenges - 121
- Tobu Railway Announces a Price Revision on the "NIKKO PASS All Area" and "NIKKO PASS World Heritage Area," from April 20, 2025 - 116
- Meditech International Inc. and Los Angeles Rams Continue Strategic Partnership to Enhance Athlete Performance and Recovery - 113
- Deevid.ai Unveils AI Kissing and AI Dancing Templates to Power Viral TikTok Content Creation - 110
- Multi-Award Winning B.Slade to Debut in Las Vegas at Iconic Westgate Resort & Casino; The B.Slade Experience (BSX) — May 3, 2025 - 108
- Family Estrangement on the Rise: Therapist Offers Support, Perspective, and Community for Those Affected - 107
- Is Billboard Advertising Still Effective in 2025? - 101
Similar on EntSun
- Asset-Backed Green Crypto: Fueling the Trillion-Dollar Revolution
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Ushering in a Disruptive Innovation in Web3
- Cybersecurity is Protecting Your Personal Information and Your Portfolio
- The Paris Court of International Arbitration Elects Dr. John J. Maalouf as its New President
- $56.7 Million Announced in Q1 2025 with Revenue Growth and Progress Toward NASDAQ Uplisting for AI Marketing Company: IQSTEL, Inc. Stock Symbol: IQSTD
- SAVVY MINING raised $500 million and launched BTC.XRP.DOGE cloud mining, increasing investors' returns by 30%
- Ditch Micromanagement: New Leadership Book for Results-Driven, Accountability-Based Teams
- Jay Tapp was named Managing Director in British Columbia
- 20 Patents Issued Worldwide, Cementing Company Leadership. First Ever Cable-Free 12-Lead ECG: HeartBeam, Inc. (Stock Symbol: BEAT)
- NASDAQ Uplisting for Higher Market Exposure and Wide Corporate Benefits to AI Boosted Marketing Company On Track Towards $1 Billion Revenue by 2027
Redfin Reports Homebuying Demand Ticks Up Slightly After Last Week's Record-Fast Rate Drop
EntSun News/10964932
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Mortgage-purchase applications and Redfin's Homebuyer Demand Index both increased as rates stayed around 6.6%, down sharply from 7% earlier this month, saving the typical buyer over $100 in monthly mortgage payments. Still, supply is piling up--posting a record annual increase--as pending sales fell the most on record. This is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
Leading indicators of homebuying activity:
Key housing market takeaways for 400+ U.S. metro areas:
Unless otherwise noted, this data covers the four-week period ending November 20. Redfin's weekly housing market data goes back through 2015.
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-homebuying-demand-ticks-up-rate-drop
More on EntSun News
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
More on EntSun News
Contacts
Redfin Journalist Services:
Ally Braun, 206-588-6863
press@redfin.com
Leading indicators of homebuying activity:
- For the week ending November 23, 30-year mortgage rates ticked down to 6.58%.
- Mortgage purchase applications during the week ending November 18 increased 8.7% from a month earlier, seasonally adjusted. Purchase applications were down 41% from a year earlier.
- Fewer people searched for "homes for sale" on Google than this time in 2021. Searches during the week ending November 19 were down about 38% from a year earlier.
- The seasonally adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other homebuying services from Redfin agents— was up 1.6% from a month earlier but down 33% from a year earlier during the four weeks ending November 20.
- Touring activity as of November 20 was down 35% from the start of the year, compared to a 3% year-over-year decrease at the same time last year, according to home tour technology company ShowingTime.
Key housing market takeaways for 400+ U.S. metro areas:
Unless otherwise noted, this data covers the four-week period ending November 20. Redfin's weekly housing market data goes back through 2015.
- The median home sale price was $356,149, up 2.1% year over year, the smallest increase since the start of the pandemic.
- Among the 50 most populous U.S. metros, home-sale prices fell from a year earlier in five of them. Prices declined 9.5% year over year in San Francisco, 2.1% in Sacramento, 1.7% in Detroit and less than 1% in San Jose, CA and San Diego.
- Among the 50 most populous U.S. metros, pending sales fell the most from a year earlier in Las Vegas (-64%), Austin (-58.2%), Phoenix (-57%), Jacksonville, FL (-57%) and Sacramento (-54%).
- The median asking price of newly listed homes was $363,600, up 4.6% year over year, the slowest growth rate since the beginning of the pandemic.
- The monthly mortgage payment on the median-asking-price home was $2,384 at the current 6.58% mortgage rate. That's down slightly from a week earlier and down 6% from two weeks earlier, when mortgage rates were at 7.08%. That's equal to $140 in monthly mortgage savings from two weeks ago for the typical buyer. Still, monthly mortgage payments are up 41% from a year ago.
- Pending home sales were down 35.2% year over year, the largest decline since at least January 2015, as far back as this data goes.
- New listings of homes for sale were down 20% from a year earlier, one of the largest declines since the beginning of the pandemic.
- Active listings (the number of homes listed for sale at any point during the period) were up 11.6% from a year earlier, the biggest annual increase since at least 2015.
- Months of supply—a measure of the balance between supply and demand, calculated by dividing the number of active listings by closed sales—was 3.5 months, the highest level since June 2020.
- 32% of homes that went under contract had an accepted offer within the first two weeks on the market, little changed from the prior four-week period but down from 40% a year earlier.
- Homes that sold were on the market for a median of 36 days, up more than a week from 28 days a year earlier and up from the record low of 17 days set in May and early June.
- 27% of homes sold above their final list price, down from 42% a year earlier and the lowest level since July 2020.
- On average, 7.3% of homes for sale each week had a price drop, up from 3.4% a year earlier but down slightly from the previous two weeks.
- The average sale-to-list price ratio, which measures how close homes are selling to their final asking prices, fell to 98.5% from 100.4% a year earlier. That's the lowest level since June 2020.
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-homebuying-demand-ticks-up-rate-drop
More on EntSun News
- Miss United Crown of America Launches as a National Platform for Purpose-Driven Titleholders
- Big Red NOLA Publishing Boosts "Voices of Tomorrow"
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Ushering in a Disruptive Innovation in Web3
- Aureli Construction Sets the Standard for Seamless Home Additions in Greater Boston
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
More on EntSun News
- Pathways to Adulthood Conference May 17 at Melville Marriott Honoring NYS Assembly Member Jodi Giglio, Suffolk County Legislator Nick Caracappa
- KBA Sports and 6x Entertainment Join Forces to Become Global Sports Partners
- Adster Techologies awarded US Patent for breakthrough innovation in reducing latency in Ad Serving
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
- Cybersecurity is Protecting Your Personal Information and Your Portfolio
Contacts
Redfin Journalist Services:
Ally Braun, 206-588-6863
press@redfin.com
Filed Under: Business
0 Comments
Latest on EntSun News
- Ditch Micromanagement: New Leadership Book for Results-Driven, Accountability-Based Teams
- Jay Tapp was named Managing Director in British Columbia
- World Ballet Company's Cinderella Comes to the Weinberg Center This Fall
- Hubei Heavy Equipment Makes a Striking Appearance at CIMT and Competes with International Brands
- 20 Patents Issued Worldwide, Cementing Company Leadership. First Ever Cable-Free 12-Lead ECG: HeartBeam, Inc. (Stock Symbol: BEAT)
- NASDAQ Uplisting for Higher Market Exposure and Wide Corporate Benefits to AI Boosted Marketing Company On Track Towards $1 Billion Revenue by 2027
- Congressional Men's Health Caucus Shows Bipartisan Consensus and Focus on Prevention, Mental Health, and Closing the Lifespan Gap
- DuoKey, Axiomtek and Blue Edge Network Partner to Enhance Smart Cities with Privacy-Preserving Urban Safeguarding and Fleet Management
- Austin Keen Joins WakeFX RopePal as Official Brand Ambassador
- Bonelli Systems Expands Managed IT Services Nationwide, Leveraging Microsoft Azure Expertise
- $4.3 Million Patent Application Waiver Fee Granted by FDA on New Drug Application Fee for Treatment Addressing Suicidal Depression & PTSD: NRX Pharma
- Whistleblower Claims Dental Patient Deaths Likely Due to Book Ban
- xREnergy up as much as +3,094,634% on first day listed on the XRP Ledger. Ticker : $XRE
- Psychiatry's Legacy of Racism and Coercion Highlighted in Restraint Deaths
- New Book 'Cybersecurity Leadership' Guides SME Leaders to Make Smart, Strategic Security Decisions
- "Stop scrolling and start watching" - Beloved film recommendation site Criticker gets a major makeover
- Green Energy Solar Expands with New Offices in Port St. Lucie, West Palm Beach, and Orlando
- Events by Dubsdread Expands Services to The Venue at Lake Lily
- London Gala Emphasizes Trade, FDI and Ongoing Cooperation
- Sahit Muja Launches Trillion-Dollar Green Revolution with 10 Groundbreaking Cryptos