The April CPI report came in just a tad softer than expected, which means mortgage rates should come down ✨a bit ✨

Another couple of months of similar data would give the Fed enough to start cutting rates. #mortgagerates
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Demand for second-home mortgages fell twice as fast as primary homes last year, as housing costs rose to new heights.

So far this year, interest in second-home mortgages has been sitting near an 8-year low. #realestate
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Record-high monthly mortgage payments are chilling the spring selling season a bit 🏠

There are some signs that competition for homes is slowing down right now, when it typically speeds up: bit.ly/3ww4aJc #realestate 👇

• 30% of homes sold above asking price, down from 32% a year ago
• 6% of sellers dropped their asking price, up from 4% a year ago

Roughly 20% of new mortgages went to low-income homebuyers in 2023, down from 23% in 2020.

Low-income earners gained ground at the start of the pandemic, but that progress has since been erased due to high home prices and elevated mortgage rates. #housing
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Home prices are leveling off and supply is rising in many parts of Florida, bucking national trends.

Our Chief Economist Daryl Fairweather ⛅ says the correction is a bit overdue following several years of unsustainable price growth fueled by the pandemic homebuying boom. #Florida

Today's takeaways about the #housingmarket 👇

There are now no major U.S. metro areas where home prices are falling.

Despite demand cooling a bit as mortgage rates rise, there are enough buyers out there to keep prices propped up 👉 bit.ly/3JQQfQU #realestate

For the first time in nearly two years, the median home-sale price rose from a year earlier or stayed the same in all 50 of the most populous U.S. metros.

As low inventory drives up prices, homebuying demand is softening amid rising mortgage rates. #housing

You have questions about a home. Ask Redfin has answers.

Our AI-powered virtual assistant is now available to all Redfin iPhone app users across the U.S. to help you quickly get the answers you need to get closer to your dream home: bit.ly/4a4umIA

For homebuyers, mortgage rates are unlikely to change much in the near future.

Due to the lack of progress on inflation, the Fed held rates steady yesterday. The next fresh read on inflation comes May 15. #mortgagerates

Florida and Texas have been building more homes than anywhere else in the U.S., partly to accomodate the surge of newcomers during the pandemic homebuying boom.

But the boom is over and now, homes are sitting on the market and price growth is stagnating.
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Ezmeralda and Luis are now proud owners of their very first home. Congrats! 🎉❤️