Redfin Reports Annual Home Price Growth Slows to 3% - Seite 2
Unless otherwise noted, this data covers the four-week period ending November 6. Redfin’s weekly housing market data goes back through 2015.
- The median home sale price was $359,250, up 3% year over year, the slowest sale-price growth since the beginning of the pandemic.
- Home-sale prices fell from a year earlier in six U.S. metro areas: Prices declined 6% year over year in San Francisco, 6% in Lake County, IL, 3% in Stockton, CA, and less than 1% in Oakland, CA, San Jose, CA and Pittsburgh, PA.
- Among metro areas with at least 500 pending sales during the period, pending sales fell the most from a year ago in Las Vegas (-55%), Miami (-49%), Seattle (-48%), Portland, OR (-47%), Phoenix (-46%), Riverside, CA (-46%) and Atlanta, GA (-45%).
- The median asking price of newly listed homes was $372,475, up 7% year over year but down 7% from a record high of $399,975 in May.
- The monthly mortgage payment on the median-asking-price home was $2,542 at the current 7.08% mortgage rate, up 50.7% from $1,687 a year earlier, when mortgage rates were 2.98% and up from a recent low of $2,203 during the four-week period ending August 14.
- Pending home sales were down 34% 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 17% from a year earlier.
- Active listings (the number of homes listed for sale at any point during the period) were up 10% from a year earlier.
- Months of supply—a measure of the balance between supply and demand, calculated by dividing the number of active listings by closed sales—was 3.3 months, the highest level since June 2020.
- 34% 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.
- 22% of homes that went under contract had an accepted offer within one week of hitting the market, little changed from the prior four-week period but down from 28% a year earlier.
- Homes that sold were on the market for a median of 35 days, up more than a week from 27 days a year earlier and up from the record low of 17 days set in May and early June.
- 28% of homes sold above their final list price, down from 43% a year earlier and the lowest level since July 2020.
- On average, a record 7.9% of homes for sale each week had a price drop, up from 3.6% a year earlier.
- The average sale-to-list price ratio, which measures how close homes are selling to their final asking prices, fell to 98.7% from 100.4% a year earlier. This was the lowest level since July 2020.
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To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-annual-home-price-gr ...
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