* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 14, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

    The other WWE star James Gunn wanted for Peacemaker instead of John Cena – yahoo.com

    The WWE Star James Gunn Originally Wanted for Peacemaker Instead of John Cena

    Quinta Brunson, John Stamos Join Entertainment and Technology Summit – Variety

    Quinta Brunson and John Stamos to Headline Thrilling Entertainment and Technology Summit

    ‘Breaking Bad’ star arrested for incident with neighbor. Here’s the latest – PennLive.com

    Breaking Bad’ Star Arrested Following Neighbor Dispute: Latest Updates

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Figure Technology’s stock sizzles after IPO, as investors stay hungry for crypto deals – MarketWatch

    Figure Technology’s Stock Skyrockets After IPO Amid Surging Crypto Investor Excitement

    AI is the ‘most transformational technology’ in our lifetime, AMD CEO argues – Fox Business

    AMD CEO Declares AI the Most Transformative Technology of Our Era

    PAR Technology (PAR) Unveils AI-Powered Assistant Enhancing Restaurant Operations and Customer Engagement – simplywall.st

    PAR Technology Unveils AI-Powered Assistant to Revolutionize Restaurant Operations and Boost Customer Engagement

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

    The other WWE star James Gunn wanted for Peacemaker instead of John Cena – yahoo.com

    The WWE Star James Gunn Originally Wanted for Peacemaker Instead of John Cena

    Quinta Brunson, John Stamos Join Entertainment and Technology Summit – Variety

    Quinta Brunson and John Stamos to Headline Thrilling Entertainment and Technology Summit

    ‘Breaking Bad’ star arrested for incident with neighbor. Here’s the latest – PennLive.com

    Breaking Bad’ Star Arrested Following Neighbor Dispute: Latest Updates

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Figure Technology’s stock sizzles after IPO, as investors stay hungry for crypto deals – MarketWatch

    Figure Technology’s Stock Skyrockets After IPO Amid Surging Crypto Investor Excitement

    AI is the ‘most transformational technology’ in our lifetime, AMD CEO argues – Fox Business

    AMD CEO Declares AI the Most Transformative Technology of Our Era

    PAR Technology (PAR) Unveils AI-Powered Assistant Enhancing Restaurant Operations and Customer Engagement – simplywall.st

    PAR Technology Unveils AI-Powered Assistant to Revolutionize Restaurant Operations and Boost Customer Engagement

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Redfin Reports Pending Home Sales Rise to Highest Level in a Year

November 18, 2023
in Business
Share on FacebookShare on Twitter

New listings were near their six-month high in October, helping drive an increase in pending sales, though buyers backed out of deals at the highest rate on record. The recent drop in mortgage rates could give sales another boost in November.

SEATTLE–(BUSINESS WIRE)–
(NASDAQ: RDFN) —U.S. pending home sales rose 1% month over month in October to the highest level in a year on a seasonally adjusted basis. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They fell 4.8% from a year earlier, but that’s the smallest annual decline in almost two years.

Pending sales have been ticking up for several reasons:

The supply crunch has eased slightly, giving buyers more options to choose from. The more homes there are on the market, the more can sell. New listings in October were comparable with September’s level, which was the highest in six months on a seasonally adjusted basis. They fell 4.5% from a year earlier, but that’s the smallest decline since summer 2022. Active listings, the total number of homes for sale, rose 1.4% month over month to the highest level since May and were down 12.5% from a year earlier—the smallest decline in four months.

Sellers are cutting prices and offering concessions to entice buyers. Roughly 1 in 5 (20.8%) homes that sold in October had a price drop, just shy of the 21.6% record high hit a year earlier. More than one-third of sellers are offering concessions, which can include money for repairs, closing costs and/or mortgage-rate buydowns.

People have to move, even when it’s expensive to do so. Many house hunters have been on the sidelines for months, waiting for mortgage rates and prices to drop. But not everyone can wait forever; major life events like divorce and new jobs are bringing some buyers back to the market. And other buyers are jumping in because they want to relocate to somewhere more affordable.

Mortgage rates fell slightly at the end of October, which could have contributed to the uptick in pending sales as buyers went to lock in lower borrowing costs. Rates have fallen further this month, which means pending sales may post a bigger increase in November.

“I’ve had a lot of sellers reach out to me recently saying they’re ready to list their homes—a reversal from recent months,” said Heather Mahmood-Corley, a Redfin Premier real estate agent in Phoenix. “Everyone has a different reason for relocating. One of my sellers is moving because she wants to buy her father’s house and he’s giving her a deal, which helps offset the higher mortgage rate she’ll take on. Another is moving to Florida with her sister because her husband passed away; she built up a lot of equity, so is able to pay in cash. Other people are selling because they want to live somewhere more affordable.”

October 2023 Highlights: United States

October 2023

Month-Over-

Month Change

Year-Over-

Year Change

Median sale price

$413,874

0.5%

3.5%

Pending sales, seasonally adjusted

400,648

1.0%

-4.8%

Homes sold, seasonally adjusted

398,537

-1.8%

-12.5%

New listings, seasonally adjusted

487,401

-0.2%

-4.5%

All homes for sale, seasonally adjusted (active listings)

1,412,404

1.4%

-12.5%

Months of supply

2.7

0.1

-0.1

Median days on market

34

1

-1

Share of for-sale homes with a price drop

20.8%

2.4 ppts

-0.9 ppts

Share of homes sold above final list price

31.6%

-1.7 ppts

2.7 ppts

Average sale-to-final-list-price ratio

99.3%

-0.2 ppts

0.5 ppts

Pending sales that fell out of contract, as % of overall pending sales

17.2%

1.2 ppts

0.6 ppts

Average 30-year fixed mortgage rate

7.62%

0.42 ppts

0.72 ppts

But Buyers Backed Out of Deals at the Highest Rate on Record

While pending sales have inched up in recent months, closed home sales have continued declining. In October, closed sales fell 1.8% from a month earlier and 12.5% from a year earlier, hitting the lowest level since the onset of the pandemic on a seasonally adjusted basis. That’s partly because many deals are falling through at the last minute.

Roughly 54,000 U.S. home-purchase agreements were canceled in October, equal to 17.2% of homes that went under contract that month—the highest percentage in Redfin records that date back to 2017. That’s up from 16.1% one month earlier and 16.6% one year earlier.

“I’m seeing a lot of cold feet,” said Redfin Tampa Sales Manager Eric Auciello. “Home prices are high, mortgage rates are high and insurance costs are high, and when buyers see the final number, a lot of them are backing out.”

Some buyers are also walking away when sellers refuse to fix issues that come up during the inspection, according to Mahmood-Corley.

“Buyers want turnkey houses because everything is so expensive now, whereas in 2021 and 2022, they felt lucky to get any house,” she said. “And while I’m seeing more sellers in the market, they’re squirrely too. They’re backing out when they don’t get the price they want.”

The cancellation rate could tick down in November as buyers take advantage of the decline in mortgage rates. The average 30-year-fixed mortgage rate fell to 7.44% this week, the lowest level since September.

Home Prices Climbed 4% From a Year Earlier

The median U.S. home sale price rose 3.5% year over year to $413,874 in October and was up slightly (0.5%) from a month earlier.

Prices were just 4.4% below their May 2022 record high of $432,732, in part because buyers are still competing for a limited number of homes, which is buoying prices; while listings have inched up in recent months, they remain historically low.

Metro-Level Highlights: October 2023

Pending sales: In North Port, FL, pending sales rose 16.4% year over year, more than any other metro Redfin analyzed. Next came Dallas (10.9%) and Tampa, FL (8.8%). The biggest declines were in Greensboro, NC (-30.6%), Birmingham, AL (-24.3%) and Knoxville, TN (-24.2%).

Closed sales: Closed sales climbed from a year earlier in just five metros: Cape Coral, FL (27.3%), Salt Lake City (6.5%), North Port (5.8%), Milwaukee (1.8%) and McAllen, TX (1.5%). They fell most in Tacoma, WA (-27.4%), Oxnard, CA (-22.8%) and Frederick, MD (-20.4%).

Prices: Median sale prices rose most from a year earlier in Lake County, IL (16.4%), Newark, NJ (15.2%) and Camden, NJ (13.8%). They fell most in North Port (-8.2%), Austin, TX (-6.5%) and Honolulu (-4.3%).

Listings: New listings rose most from a year earlier in Cape Coral (77.3%), North Port (47.3%) and McAllen (15.6%). They fell most in Tacoma (-21.6%), Atlanta (-20.8%) and Portland, OR (-19.6%).

Supply: Active listings increased fastest in Cape Coral (40.4%), North Port (35.3%) and New Orleans (24.5%). They decreased fastest in Las Vegas (-39.5%), Stockton, CA (-34.6%) and Tacoma (-31.2%).

Competition: In Rochester, NY, 72.2% of homes sold above their final list price, the highest share among the metros Redfin analyzed. Next came Buffalo, NY (65.5%) and Newark (64.4%). The shares were lowest in North Port (8.1%), Cape Coral (10.1%) and West Palm Beach, FL (11.2%).

Speed: In Rochester, 74.4% of homes that went under contract did so within two weeks—the highest share among the metros Redfin analyzed. Next came Buffalo (63.9%) and Grand Rapids, MI (61.4%). The lowest shares were in Honolulu (4.9%), Chicago (11.8%) and Lake County (12.3%).

To view the full report, including charts, please visit:

https://www.redfin.com/news/housing-market-tracker-october-2023

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country’s #1 real estate brokerage site. Our home-buying customers see homes first with same day tours, and our lending and title services help them close quickly. Customers selling a home in certain markets can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, subject to minimums, less than half of what brokerages commonly charge. Since launching in 2006, we’ve saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231117986640/en/

Redfin Journalist Services:

Kenneth Applewhaite, 206-588-6863

[email protected]

Source: Redfin

Released November 17, 2023

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RedFin – https://investors.redfin.com/news-events/press-releases/detail/1009/redfin-reports-pending-home-sales-rise-to-highest-level-in

Tags: businessRedfinReports
Previous Post

Scientists discovered a field of deep-sea hot springs after following a trail of crabs like breadcrumbs on the ocean floor

Next Post

31 Kitchen Products That’ll Save You Time And Energy During The Holiday Season

World Athletics Championships 2025: Ryan Crouser, in only competition of year, wins third straight shot put world title – Olympics.com

World Athletics Championships 2025: Ryan Crouser, in only competition of year, wins third straight shot put world title – Olympics.com

September 14, 2025
A potentially K-shaped economy creates dilemmas for the Fed – The Hill

Navigating a K-Shaped Economy: The Fed’s Tough Road Ahead

September 14, 2025
Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

September 14, 2025
The Surprising Health Benefits of Doing Jigsaw Puzzles, According to Experts – marthastewart.com

Unlock Unexpected Health Benefits by Doing Jigsaw Puzzles

September 14, 2025
Foreign hack of John Bolton’s AOL account cited as part of reasoning for searching his house – CNN

Foreign hack of John Bolton’s AOL account cited as part of reasoning for searching his house – CNN

September 14, 2025
‘We’ve done it before’: how not to lose hope in the fight against ecological disaster – The Guardian

We’ve Done It Before”: Finding Hope and Strength in the Fight Against Ecological Disaster

September 13, 2025
AI Can Generate Code. Is That a Threat to Computer Science Education? – Education Week

Is AI-Generated Code a Challenge for the Future of Computer Science Education?

September 13, 2025
Aldi’s $7 Salmon & Sweet Potato Dog Food Has Pups Going Wild – yahoo.com

Aldi’s $7 Salmon & Sweet Potato Dog Food Has Pups Going Wild

September 13, 2025
What if artificial intelligence is just a “normal” technology? – The Economist

What if artificial intelligence is just a “normal” technology? – The Economist

September 13, 2025
Saints to sign DL Jonah Williams to active roster – Yahoo Sports

Saints to sign DL Jonah Williams to active roster – Yahoo Sports

September 13, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (819)
  • Economy (838)
  • Entertainment (21,716)
  • General (17,021)
  • Health (9,882)
  • Lifestyle (853)
  • News (22,149)
  • People (841)
  • Politics (847)
  • Science (16,048)
  • Sports (21,338)
  • Technology (15,820)
  • World (821)

Recent News

World Athletics Championships 2025: Ryan Crouser, in only competition of year, wins third straight shot put world title – Olympics.com

World Athletics Championships 2025: Ryan Crouser, in only competition of year, wins third straight shot put world title – Olympics.com

September 14, 2025
A potentially K-shaped economy creates dilemmas for the Fed – The Hill

Navigating a K-Shaped Economy: The Fed’s Tough Road Ahead

September 14, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version