Category: homebuyer demand

American Housing Market Loses $2.3 Trillion of Value

February 24, 2023
30-year mortgageBusiness & Marketseconomic policieseconomyhomebuyer demandmortgage affordabilityreal estaterising mortgage ratesU.S. housing marketUSUS NewsUS Real Estate
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The U.S. housing market lost more than $2 trillion in home value during the second half of 2022 as homebuyer demand waned amid elevated mortgage rates, even as home prices fell 11.5 percent from their May peak, according to real estate brokerage Redfin. At the end of 2022, the total value of U.S. homes was…

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Home Sales Plunge Over 30 Percent in Biggest Drop on Record: Redfin

January 3, 2023
Business & Marketseconomyhome prices fallhomebuyer demandluxury homesnon-luxury homesreal estateU.S. home salesUSUS Real Estate
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Sales of luxury and non-luxury homes fell by more than 30 percent in the three months ended Nov. 30, with price growth nationwide slowing down, among which Californian metropolitan areas saw some of the biggest sales declines, according to real estate brokerage Redfin. Luxury home sales fell by 38.1 percent during the period year over…

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