Housing markets in this area are cooling the fastest in the US
New construction is soaring - bringing the number of listings up to pre-pandemic levels - which is cooling competition, according to fresh analysis from Redfin.
Stay updated with breaking news from Redfin Premier. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
New construction is soaring - bringing the number of listings up to pre-pandemic levels - which is cooling competition, according to fresh analysis from Redfin.
Early indicators that national home price growth could soften soon are popping up more frequently now. Although home sale prices rose 4.4% year-over-year nationally during the four weeks ending June 2, according to this new Redfin report, they declined in four major U.S. metros within the same time frame.
The San Diego housing market reported the highest gains among 20 tracked cities, followed by New York and Cleveland.
Two Texas metropolitan areas were the only two in the country to experience price drops in the four weeks ending May 19, according to a recent Redfin report.
The median U.S. home sale price reached a record $387,600 in the four weeks ending May 19, marking a 4% year-over-year increase.