IPFS News Link • Housing
Redfin Reports Existing Home Sales Decline 25 Percent From a Year Ago
• https://mishtalk.com, By MishHousing Market Standstill
That's not a standstill. It's a collapse. So is this.
60,000 Deals Called Off
About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020.
(1/5) "The U.S. housing market is at another standstill," said Redfin Economist Chen Zhao.
— Redfin (@Redfin) October 19, 2022
Home sales and new listings both hit record lows since the early days of the pandemic as rising mortgage rates prompted buyers and sellers to stay put. #realestate
(3/5) About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020. pic.twitter.com/Pr5Wg65S4S
— Redfin (@Redfin) October 19, 2022
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