Home listings plummeted to record low in May: Redfin

According to Redfin, nearly every homeowner has a mortgage rate under 6%. In May, the rate on the 30-year-fixed mortgage averaged 6.43%, up from the 5.23% reported a year earlier.

A for sale sign is posted in front of a home for sale on February 20, 2023 in San Francisco, California. However, Redfin chief economist Daryl Fairweather said that "it's too early to say that price declines have bottomed out" and that prices still might fall if mortgage rates continue to rise. indicated earlier this month that it's likely to continue raising rates this year, which could further hamper demand and cause prices to fall in the near term, according to Fairweather.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The top 10 most expensive home sales in Oakland, reported the week of May 29A house in Oakland that sold for $2.4 million tops the list of the most expensive residential real estate sales in Oakland in the past week.
Source: OakTribNews - 🏆 597. / 51 Read more »

Houston's most expensive homes sold in May include a historic mansion with an underwater tunnelHouston's most expensive homes sold in May include one of the city's most coveted addresses
Source: HoustonChron - 🏆 609. / 51 Read more »

Dothan’s most affordable starter homesLook through budget-friendly homes for first home buyers and flippers
Source: dothaneagle - 🏆 337. / 59 Read more »

Suspect may have barricaded himself inside South Philly property after double shooting: policeAuthorities say a man has barricaded himself inside a South Philadelphia home after allegedly shooting two people.
Source: FOX29philly - 🏆 570. / 51 Read more »