More listed homes are taking longer to sell, Redfin says
About 62% of homes listed in May Redfin has reported that more listed homes are taking longer to sell due to high mortgage rates. About 62% of homes listed in May had been listed for 30 days without a buyer, while 40% had been listing for at least two months. The average 30-year fixed mortgage rate is currently 6.99%, more than double its pandemic-era low. While move-in ready properties in good neighborhoods are selling quickly, less desirable houses are now "piling up." Dallas topped the list of cities with unsold listings, followed by Fort Lauderdale, Tampa, Jacksonville, and Fort Worth, Texas. Seven of the top 10 cities with stale listings were in Florida. Redfin attributes this to increased construction in Texas and Florida, as both states are building more homes than anywhere else in the country.
公開済み : 11ヶ月前 沿って Susan Carpenter の Environment
As mortgage rates remain stubbornly high, more homes are languishing on the market.
About 62% of homes listed in May had spent 30 days without a buyer; 40% had been listed for at least two months, according to a new Redfin analysis.
Listed homes started going stale in March, when more sellers began putting their homes on the market but buyers remained on the sidelines. While move-in ready properties in good neighborhoods are selling quickly, less desirable houses are now “piling up,” Redfin said.
The percentage of homes that sit on the market for 30-60 days without being sold typically peaks in the winter and bottoms out in the spring.
The average 30-year fixed mortgage rate is currently 6.99% — more than double its pandemic-era low, which set off a real estate buying frenzy.
Dallas topped the list of cities with unsold listings sitting on the market for at least 30 days, followed by Fort Lauderdale, Fla.; Tampa; Jacksonville, Fla.; and Fort Worth, Texas. Seven of the top 10 cities with stale listings were in Florida.
Redfin said inventories were growing stale in Texas and Florida because both states are building more homes than anywhere else in the country. Homebuyers are also nervous about natural disasters in those areas.
Seattle topped the list of cities where homes are selling fastest, followed by Las Vegas and San Jose, Calif.
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