Sales of cheaper houses spiked in July: Analysis

Sales of the lowest priced homes surged in July, a sign that the housing sector, battered by interest rate hikes by the Federal Reserve, is recovering. Pending sales in the “starter home” category have increased 10.2% since July 2023, according to figures released Monday by real estate firm Redfin. That compares with a 6.5% decrease […]

Sales of cheaper houses spiked in July: Analysis

Sales of the lowest priced homes surged in July, a sign that the housing sector, battered by the Federal Reserve’s interest rate hikes, is recovering. Pending sales in the “starter home” category have increased 10.2% since July 2023, according to figures released Monday by real estate firm Redfin. That compares with a 6.5% decrease in […]

Monthly mortgage payments decline for first time since 2020: Analysis

A slowdown in inflation is finally being felt in the housing sector, with mortgage payments falling for the first time in four years. The median mortgage payment fell 0.1% in the four weeks to Aug. 18 to $2,587 at an interest rate of 6.49%. According to the data Real estate company Redfin made the announcement […]

Record 8.5 percent of homes worth $1 million or more: Analysis

The report found that 8.5% of U.S. homes are worth more than $1 million. To the new report From real estate company Redfin. The share of homes worth more than $1 million is up from 7.6% a year ago and more than double the 4% seen before the pandemic. Redfin attributes the record increase to […]