Redfin Reports Homebuying Demand Ticks Up Slightly After Last Week's Record-Fast Rate Drop
(NASDAQ: RDFN) - Mortgage-purchase applications and Redfin's Homebuyer Demand Index both increased as rates stayed around 6.6%, down sharply from 7% earlier this month, saving the typical buyer over $100 in monthly mortgage payments. Still, supply is piling up--posting a record annual increase--as pending sales fell the most on record. This is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
Leading indicators of homebuying activity:
Key housing market takeaways for 400+ U.S. metro areas:
Unless otherwise noted, this data covers the four-week period ending November 20. Redfin's weekly housing market data goes back through 2015.
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.
For 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 [email protected]. To view Redfin's press center, click here.
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