More buyers are entering the market, but bidding wars are at a 5-year low for the season
A new report reveals where buyers have gained the most leverage since 2022
Pending sales post biggest annual gain in 6 weeks as inventory grows and days on market tick up
Inventory is up and homes are sitting longer on the market — potentially benefiting homebuyers. Lower mortgage rates are also giving the market a boost.
Homes also sold at their priciest and at their quickest pace on record during June, but Redfin said that sales pace and market competition have now likely peaked for 2021
During the 4-week period ending Feb. 28, the median home sale price and the 4-week rolling average of median asking price on newly listed homes also hit new highs
The median home sale price soared 11% year over year during the week ending July 26, bringing that figure up to a record-high of $315K, according to a market report by Redfin
Declining inventory and rising home prices will drive market dynamics