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Pending home sales dipped to the lowest level since the start of the pandemic as elevated mortgage rates curtailed buyer demand and a lack of homes for sale limited purchases ... | April 19, 2023
"I was consistently busy in the fall, but things got really quiet in March after the collapse of Silicon Valley Bank," a Redfin agent said.
Pandemic-era boomtowns and tech hubs fueled an annualized 3.3 percent drop, according to new data released Wednesday by Redfin.
Median U.S. home prices fell in March by 3.3% to $400,528, led by pandemic boomtowns and pricey Bay Area markets. Prices in Boise, Idaho, fell more than any other metro across the U.S.
Spring is traditionally the hottest time of the year for the real estate market. However, even with mortgage rates optimistically trending down this year, potential homebuyers will face heavy...