While non-luxury homebuyers are beholden to mortgage rate fluctuations, luxury buyers are using their stock market gains to boost their purchasing power
Homebuyers began the new year with more home tours; however, Redfin says elevated mortgage rates have stopped them from signing contracts
In August, nearly half of all US homes had been on the market for 60 days or more, according to Redfin. Days on market has ticked up as high rates have slowed sales