Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months

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Some expensive markets like San Jose, Seattle, and Boston are still seeing big gains in for-sale home inventory, while affordable markets like Oklahoma City, Buffalo, and Memphis are already experiencing big declines. The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September. This marks the … Read More

Here’s What Homebuyers and Sellers Can Expect if the Fed Lowers Rates

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Lower mortgage rates tend to push up housing demand and prices. A weakened stock market and looming economic fallout from trade wars have led many to expect that the Fed will lower interest rates this year . If the rate cuts come, and translate to a decline in mortgage rates, homebuying will become marginally more affordable, which is likely to … Read More

U.S. Home Prices Resume Growth, Up 2.8% in April

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Sales flattened as housing supply rose 3.1%, the smallest year-over-year increase in 7 months U.S. home-sale prices edged up in April, growing 2.8 percent from a year ago, to a median of $307,600 across the metros Redfin tracks. This marks a rebound from March’s slight year-over-year price decline–the first since early 2012–and a return to the around 3 percent growth … Read More

Housing Inventory Up 5% in November—Fastest Growth in 3 Years—as Sales Decline 8%

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Prices post sub-4% growth for third consecutive month Balance of supply and demand is shifting toward homebuyers’ favor in markets like San Francisco, Seattle, Denver, Dallas, and Portland, Oregon U.S. home-sale prices increased 3.3 percent in November compared to a year ago, to a median of $298,800. November marked the third straight month of annual home price gains under 4 … Read More

Housing Inventory Crunch Finally Subsides as Supply Posts First Annual Gain in Nearly Three Years

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September Home Sales Slump, Prices Post Smallest Increase Since the Market Bottomed in 2012 U.S. home-sale prices increased just 2.1 percent in September compared to a year ago, to a median of $292,000 across the 171 metros Redfin tracks. This was the smallest increase in home prices we’ve seen since February 2012, when the median home price bottomed out at … Read More

Chicago Home Prices Rise Amid Lowest Inventory in Years

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Chicago home prices were up 8.4 percent in December from a year earlier, with the typical home selling for $237,250. Sales fell 2.8 percent. Prices soared in part because of a lack of inventory. The number of homes for sale fell 6.9 percent, the ninth-straight month of decline. Chicago had only 10,645 homes for sale last month, the fewest this … Read More