✉news BusinessReal Estate first seen 6 d ago, last 5 d ago, peak #3
Redfin sees US housing market shifting toward buyers
Original: Redfin signals a shift in power to buyers amid price cuts—but 7% mortgage rates are a problem
Redfin reports that the US housing market is tilting in buyers' favor, with more sellers cutting prices as inventory builds. However, the shift is limited by mortgage rates hovering around 7%, which keep monthly payments high and price out many potential buyers. The report suggests price cuts alone may not revive demand while borrowing costs remain elevated.
Why now: Mortgage rates near 7% and rising price cuts are affecting homebuying decisions right now.
Rank over time, top of the chart is #1. 11 snapshots from 6 d ago to 5 d ago.
Evidence
- Redfin signals a shift in power to buyers amid price cuts—but 7% mortgage rates are a problem · Fortune
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