article thumbnail

Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

Adding to buyers’ affordability pain, median home prices rose 3.4% 17, total active listings were at 806,701, down 16.2% However, new listings have stabilized, ticking up slightly since the beginning of September. New listings are down 6.7% For the four weeks ending Sept. compared to a year ago.

article thumbnail

Pending home sales surged in December: NAR

Housing Wire

According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. increase between 2024 and 2025 to a pace of 5.35 in 2025 to reach $405,200. in 2025 to reach $405,200. But new listings activity grew by 9.1% million and a 15.8%

Contracts 448
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A sub-7% mortgage rate brings holiday cheer

Housing Wire

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” Sam Khater, Freddie Mac’s chief economist said in a statement. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 477
article thumbnail

Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. We found that more than 99% of new listings in March included offers to pay the buyer’s agent. Furthermore, more than 96% of all listings included offers of 2% or more, and more than 67% are offering to pay 2.5%

Agents 347
article thumbnail

“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

million and that funds will be only distributed to “qualifying settlement class members who submit an approved claim form,” which much be submitted by May 9, 2025. The emails and postcards also note that the settlement total is $208.5 Recipients are also given the option to “opt out” or object to the settlement. she asked. “It

Agents 389
article thumbnail

Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

The market is now in the process of thawing after a lengthy cool down, as buyers begin anew to seek change in their home dynamics. There is plenty of pent-up demand from prospective buyers who have watched for months from the sidelines as financing costs remained untenable. That’s a whopping 134% more than December and a solid 7.0%

article thumbnail

Eastside Residential Market Sees Big Gains in Sales, Prices

Will Springer Realtor

That was highlighted by a 30% month-to-month gain in total home sales (single-family, townhome and condos combined) across the county in March and unseasonably low supply for buyers. The 2166 single-family new listings in King are the lowest of any March since records were archived online in 1991. above the list price.