SEATTLE
,
February 24, 2022
(press release)
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New listings post smallest year-over-year decline since mid-November; pending sales rise 1% The number of newly listed homes for sale during the four weeks ending February 20 was down just 2% year over year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That's the smallest decline since mid-November. More new listings were met with hearty demand. Pending sales rose 1%, the first increase since mid-January. The market again set new record highs for home sale prices, asking prices, buyers’ mortgage payments and the share of homes selling within days of hitting the market. We also saw a new all-time low for the total number of homes for sale. ”The good news for homebuyers is that each week more homes are being listed for sale,” said Redfin Deputy Chief Economist Taylor Marr. “There is growing evidence that January’s dramatic drop in new listings was only a temporary blip driven by heavy winter storms and the spike in Covid cases, so homebuyers may have some hope for better selection in the coming spring season.” Key housing market takeaways for 400+ U.S. metro areas: Unless otherwise noted, this data covers the four-week period ending February 20. Redfin’s housing market data goes back through 2012. Other leading indicators of homebuying activity: To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-demand-up-prices-record-high/ About Redfin Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), 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 take an instant cash offer from Redfin or 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 6,000 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 press@redfin.com. To view Redfin's press center, click here. View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005936/en/ Redfin Journalist Services: Source: Redfin
Kenneth Applewhaite, 206-588-6863
press@redfin.com
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