Redfin says US pending home sales hit six-month low as demand cools
RDFN•Prices, mortgage rates and inventory
Median US sale price rose 1.9% year over year to USD 400,649; the weekly average 30-year fixed mortgage rate was 6.65%.
Active listings increased 0.5% week over week to 1.5 million; months of supply edged up to 3.8, near balanced-market levels.
US pending home sales fall to six-month low
Redfin analysis showed US new listings rose 0.4% in the four weeks ended Aug. 23, the highest since April.
Pending home sales fell 1.1% week over week to a six-month low, signaling softer demand as housing costs stay elevated.
Market conditions favor buyers in many metros
Redfin flagged a buyer’s-leaning market in many metros, citing rising inventory, slower sales and more room for concessions.
