Homebuying Competition Drops Near Pandemic-Era Low, Redfin Reports
According to recent data from Redfin, competition for home purchases continues to decline as affordability challenges keep many buyers out of the market. The number of prospective purchasers to make counteroffers is declining, confirming the softening in the market. Counteroffers accounted for only 44.3% of offers made by Redfin agents in July on a seasonally adjusted basis. This represents a decrease from 63.8% from the same time a year ago. This is also lower than last mont
Record Drop in Price Growth - Mortgage Monitor
The next release of the Case Shiller and FHFA home price indices won't be released for a few weeks, but this week's Mortgage Monitor from Black Knight provides an earlier glimpse at June's data. Black Knight's statistics for May showed year-over-year appreciation dipped below 20%, but barely. Much like FHFA and Case Shiller. The official figure was 19.3% (Case Shiller was still above 20%, and FHFA had dropped to 18.3%). Today's data reveals a more apparent slowdown in June, w
