Redfin Reports Homebuying Demand Sitting Near Highest Level Since Early Spring As Mortgage Rates Fall

Business Wire12-12

SEATTLE, December 12, 2024--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490383854?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/PEmFPEHElBbZh09PhsYc_A--~B/aD01MTg7dz0xNTAxO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/259dfe98b347de347fcbeec2b95d1c4e","is_english":true,"pubTime":"2024-12-12 21:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2490383854","market":"us","top_or_hot":-1,"title":"Redfin Reports Homebuying Demand Sitting Near Highest Level Since Early Spring As Mortgage Rates Fall","media":"Business Wire","content":"<div>\n<p>SEATTLE, December 12, 2024--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late ...</p>\n\n<a href=\"https://finance.yahoo.com/news/redfin-reports-homebuying-demand-sitting-130000410.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Redfin Reports Homebuying Demand Sitting Near Highest Level Since Early Spring As Mortgage Rates Fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRedfin Reports Homebuying Demand Sitting Near Highest Level Since Early Spring As Mortgage Rates Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-12 21:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/redfin-reports-homebuying-demand-sitting-130000410.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SEATTLE, December 12, 2024--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late ...</p>\n\n<a href=\"https://finance.yahoo.com/news/redfin-reports-homebuying-demand-sitting-130000410.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4079","symbol_name":"房地产服务","start_time":0,"source_url":"https://finance.yahoo.com/news/redfin-reports-homebuying-demand-sitting-130000410.html","article_id":"2490383854","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/PEmFPEHElBbZh09PhsYc_A--~B/aD01MTg7dz0xNTAxO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/259dfe98b347de347fcbeec2b95d1c4e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490383854","pubTimestamp":1734008400,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"SEATTLE, December 12, 2024---- — Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November, according to a new report from Redfin , the technology-powered real estate brokerage.Mortgage rates are declining after last week’s cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly rate is 6.69%, down from a four-month high of 6.84% two weeks earlier. That has pushed the typical U.S. homebuyer’s monthly housing payment down to $2,527, its lowest level in more than two months.Redfin’s Homebuyer Demand Index—a seasonally adjusted measure of tours and other buying services from Redfin agents—is up 8% year over year to just shy of its highest level since April, and mortgage-purchase applications are up nearly 20% from a month ago. Pending home sales rose 4.1% year over year during the four weeks ending December 8, similar to the increases Redfin has see","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4079":"房地产服务","WRD":"文远知行","PHH":"Park Ha Biological Technology Co. Ltd.","RDFN":"Redfin Corp","BK4548":"巴美列捷福持仓"},"translate_title":"Redfin报告称，随着抵押贷款利率下降，购房需求接近早春以来的最高水平","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PHH":1,"WRD":1,"RDFN":0.9},"content_text":"SEATTLE, December 12, 2024--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.\nMortgage rates are declining after last week’s cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly rate is 6.69%, down from a four-month high of 6.84% two weeks earlier. That has pushed the typical U.S. homebuyer’s monthly housing payment down to $2,527, its lowest level in more than two months.\nRedfin’s Homebuyer Demand Index—a seasonally adjusted measure of tours and other buying services from Redfin agents—is up 8% year over year to just shy of its highest level since April, and mortgage-purchase applications are up nearly 20% from a month ago. Pending home sales rose 4.1% year over year during the four weeks ending December 8, similar to the increases Redfin has seen over the last two months.\nDeclining mortgage rates are one reason homebuyers are hitting the pavement. But there are two more impactful reasons demand is improving: The financial uncertainty surrounding the presidential election has passed, and buyers have accepted the fact that mortgage rates are likely to remain above 6% for the foreseeable future.\n\"This week’s data shows the increase in signals like home tours and mortgage applications from the last month is continuing. The recent decline in mortgage rates isn’t pushing demand to new heights,\" said Chen Zhao, Redfin’s economic research lead. \"Rather, demand is settling into its new, post-election normal. In the months leading up to the election, house hunters were hibernating; demand was slower than we would have expected, even with high mortgage rates. Now, early-stage demand has jumped up to where we’d expect it to be.\"\nOn the selling side, new listings are up 7.9% year over year, the biggest increase since June (except the 4 weeks ending November 24, when the increase was inflated due to Thanksgiving). Sellers are becoming more active for similar reasons as buyers. Additionally, some sellers are listing in hopes of taking advantage of the increased demand Redfin has seen over the last several weeks.\nFor Redfin economists’ takes on the housing market, please visit Redfin’s \"From Our Economists\" page.\nLeading indicators\n\n\n\nIndicators of homebuying demand and activity\n\n\n\nValue (if applicable)\nRecent change\nYear-over-year change\nSource\n\n\nDaily average 30-year fixed mortgage rate\n6.75% (Dec. 11)\nDown from 7.08% three weeks earlier\nDown from 7.05%\nMortgage News Daily\n\n\nWeekly average 30-year fixed mortgage rate\n6.69% (week ending Dec. 5)\nDown from 6.84% three weeks earlier\nDown from 7.22%\nFreddie Mac\n\n\nMortgage-purchase applications (seasonally adjusted)\n\nDown 4% from a week earlier (as of week ending Dec. 6)\nUp 4%\nMortgage Bankers Association\n\n\nRedfin Homebuyer Demand Index (seasonally adjusted)\n\nUp 5% from a month earlier; highest level since April, except the 4 weeks ending Nov. 17(as of week ending Dec. 8)\nUp 8%\nRedfin Homebuyer Demand Index a measure of tours and other homebuying services from Redfin agents\n\n\nGoogle searches for \"home for sale\"\n\nEssentially unchanged from a month earlier (as of Dec. 9)\nDown 7%\nGoogle Trends\n\n\n\nKey housing-market data\n\n\n\nU.S. highlights: Four weeks ending Dec. 8, 2024Redfin’s national metrics include data from 400+ U.S. metro areas, and is based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.\n\n\n\nFour weeks ending Dec. 8, 2024\nYear-over-year change\nNotes\n\n\nMedian sale price\n$383,875\n6%\n\n\n\nMedian asking price\n$381,995\n6%\n\n\n\nMedian monthly mortgage payment\n$2,527 at a 6.69% mortgage rate\n3.8%\nLowest level since September\n\n\nPending sales\n63,524\n4.1%\n\n\n\nNew listings\n63,168\n7.9%\n\n\n\nActive listings\n980,776\n11.3%\nSmallest increase since March\n\n\nMonths of supply\n4.1\n+0.2 pts.\n4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions.\n\n\nShare of homes off market in two weeks\n27.2%\nDown from 29%\n\n\n\nMedian days on market\n43\n+7 days\n\n\n\nShare of homes sold above list price\n24.3%\nDown from 26%\n\n\n\nAverage sale-to-list price ratio\n98.5%\n-0.1 pt.\n\n\n\n\n\n\n\nMetro-level highlights: Four weeks ending Dec. 8, 2024Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\n\n\n\nMetros with biggest year-over-year increases\nMetros with biggest year-over-year decreases\nNotes\n\n\nMedian sale price\nMiami (13.3%)Warren, MI (11.5%)Milwaukee (10.4%)Cleveland (10.2%)West Palm Beach, FL (10%)\nTampa, FL (-0.9%)\nDeclined in 1 metro\n\n\nPending sales\nSan Jose, CA (17.2%)Los Angeles (14.9%)Cincinnati (12.8%)Jacksonville, FL (11.8%)Anaheim, CA (11%)\nHouston (-6.2%)Miami (-6%)Detroit (-3.7%)Orlando, FL (-2.7%)West Palm Beach, FL (-2.7%)\nDeclined in 8 metros\n\n\nNew listings\nSan Francisco (24%)Columbus, OH (17.6%)Seattle (16.9%)San Jose, CA (15.9%)Washington, D.C. (15.7%)\nSan Antonio (-10%)Orlando, FL (-5.5%)Newark, NJ (-4.6%)Atlanta (-3.2%)Portland, OR (-3.1%)\nDeclined in 9 metros\n\n\n\nTo view the full report, including charts, please visit:\nhttps://www.redfin.com/news/housing-market-update-homebuying-demand-mortgage-rates-fall\nAbout Redfin\nRedfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.6 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.\nRedfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.\nFor more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241212430135/en/\nContacts\nContact RedfinRedfin Journalist Services:Tana Kelleypress@redfin.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490383854"}