120 0 Kommentare Redfin Reports Early Stage Demand Picks Up as Mortgage Rates Fall to a Four-Month Low

(NASDAQ: RDFN) —More homebuyers are returning to the market, motivated by a decline in mortgage rates and a record share of listings with price drops, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Redfin’s Homebuyer Demand Index—a measure of requests for home tours and other home-buying services from Redfin agents—rose 7 points during the last week of July, and mortgage purchase applications rose for the first time in five weeks.

So far this rebound has not moved through to actual home sales. Pending sales in July posted their largest decline since May 2020. Home sellers are also reluctant to enter the market—new listings fell 11% from a year ago, the largest decline since June 2020.

"Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession," said Redfin Deputy Chief Economist Taylor Marr. “There are deals to be had on some homes that have been sitting on the market with reduced prices. General economic uncertainty may continue to keep a lid on homebuyer demand and keep mortgage rates volatile, but the labor market remains a beacon of strength in the economy and the housing market in particular."

Leading indicators of homebuying activity:

For the week ending August 4, 30-year mortgage rates fell to 4.99%, the lowest level in four months. This was down from a 2022 high of 5.81% but up from 3.11% at the start of the year.
Fewer people searched for “homes for sale” on Google—searches during the week ending July 30 were down 24% from a year earlier, but are up 9% since late May.
The seasonally-adjusted Redfin Homebuyer Demand Index was down 9% year over year during the week ending July 31, but has risen 21 points since the week of June 19.
Touring activity as of July 31 was down 7% from the start of the year, compared to a 15% increase at the same time last year, according to home tour technology company ShowingTime.
Mortgage purchase applications were down 16% from a year earlier during the week ending July 29, while the seasonally-adjusted index was up 1% week over week, the first increase in five weeks.