Redfin Reports Home-Price Growth Is Losing Steam As Buyers Back Off Amid Economic Instability and High Costs
Redfin (NASDAQ: RDFN) reports that U.S. median home-sale prices rose 2.6% year-over-year in the four weeks ending April 13, showing significant deceleration from 5-6% growth seen in late 2024. The slowdown is attributed to rising supply amid weakening demand, with new listings up 11.2% and total inventory up 12.3% year-over-year.
The housing market faces headwinds from record-high housing costs, with median monthly payments reaching $2,819, and widespread economic instability. Pending home sales declined 1% year-over-year, while mortgage applications dropped 5% week-over-week. In 10 of the 50 most populous metros, primarily in Texas and Florida, median home prices have decreased year-over-year.
The median sale price stands at $387,000, with 39.4% of homes going off market within two weeks, down from 42% last year. The average sale-to-list price ratio decreased to 98.7% from 99.1%, indicating increased buyer negotiating power in the current market.
Redfin (NASDAQ: RDFN) comunica che i prezzi medi di vendita delle case negli Stati Uniti sono aumentati del 2,6% su base annua nelle quattro settimane terminate il 13 aprile, mostrando un significativo rallentamento rispetto alla crescita del 5-6% registrata alla fine del 2024. Il rallentamento è attribuito all'aumento dell'offerta in un contesto di domanda in calo, con nuove inserzioni in aumento dell'11,2% e inventario totale cresciuto del 12,3% su base annua.
Il mercato immobiliare affronta difficoltà dovute ai costi abitativi ai massimi storici, con pagamenti mensili medi che raggiungono i 2.819 dollari, e a una diffusa instabilità economica. Le vendite di case in attesa sono diminuite dell'1% su base annua, mentre le domande di mutuo sono calate del 5% rispetto alla settimana precedente. In 10 delle 50 aree metropolitane più popolose, principalmente in Texas e Florida, i prezzi medi delle case sono diminuiti su base annua.
Il prezzo medio di vendita si attesta a 387.000 dollari, con il 39,4% delle case che esce dal mercato entro due settimane, in calo rispetto al 42% dell'anno scorso. Il rapporto medio tra prezzo di vendita e prezzo di listino è sceso al 98,7% dal 99,1%, indicando un aumento del potere contrattuale degli acquirenti nel mercato attuale.
Redfin (NASDAQ: RDFN) informa que los precios medianos de venta de viviendas en EE.UU. aumentaron un 2,6% interanual en las cuatro semanas que finalizaron el 13 de abril, mostrando una desaceleración significativa respecto al crecimiento del 5-6% observado a finales de 2024. La desaceleración se atribuye al aumento de la oferta en medio de una demanda débil, con listados nuevos que subieron un 11,2% y el inventario total un 12,3% interanual.
El mercado inmobiliario enfrenta vientos en contra debido a los costos de vivienda en niveles récord, con pagos mensuales medianos que alcanzan los 2.819 dólares, y una amplia inestabilidad económica. Las ventas pendientes de viviendas disminuyeron un 1% interanual, mientras que las solicitudes de hipotecas cayeron un 5% semana a semana. En 10 de las 50 áreas metropolitanas más pobladas, principalmente en Texas y Florida, los precios medianos de las viviendas han disminuido interanualmente.
El precio medio de venta se sitúa en 387.000 dólares, con un 39,4% de las viviendas saliendo del mercado en dos semanas, frente al 42% del año pasado. La relación promedio entre el precio de venta y el precio de lista bajó al 98,7% desde el 99,1%, indicando un mayor poder de negociación de los compradores en el mercado actual.
Redfin (NASDAQ: RDFN)은 4월 13일로 끝나는 4주 동안 미국 주택 중간 판매 가격이 전년 대비 2.6% 상승했다고 보고했으며, 이는 2024년 말 5-6% 성장에서 크게 둔화된 수치입니다. 둔화는 수요 약화 속 공급 증가에 기인하며, 신규 매물은 11.2%, 전체 재고는 전년 대비 12.3% 증가했습니다.
주택 시장은 사상 최고 수준의 주택 비용과 중간 월 납입금이 2,819달러에 달하는 점, 그리고 광범위한 경제 불안정성으로 인해 역풍을 맞고 있습니다. 대기 중인 주택 판매는 전년 대비 1% 감소했고, 주택 담보 대출 신청은 전주 대비 5% 줄었습니다. 인구가 많은 50개 대도시 중 10곳, 주로 텍사스와 플로리다에서 중간 주택 가격이 전년 대비 하락했습니다.
중간 판매 가격은 387,000달러이며, 39.4%의 주택이 2주 이내에 시장에서 빠져나가 지난해의 42%에서 감소했습니다. 평균 판매 대 리스트 가격 비율은 99.1%에서 98.7%로 하락해 현재 시장에서 구매자의 협상력이 커졌음을 나타냅니다.
Redfin (NASDAQ : RDFN) rapporte que les prix médians des ventes de maisons aux États-Unis ont augmenté de 2,6 % en glissement annuel sur les quatre semaines se terminant le 13 avril, montrant un net ralentissement par rapport à la croissance de 5 à 6 % observée fin 2024. Ce ralentissement est attribué à une offre croissante face à une demande en baisse, avec les nouvelles annonces en hausse de 11,2 % et l'inventaire total en hausse de 12,3 % sur un an.
Le marché immobilier fait face à des vents contraires dus aux coûts du logement à des niveaux records, avec des paiements mensuels médians atteignant 2 819 dollars, et à une instabilité économique généralisée. Les ventes de maisons en attente ont diminué de 1 % en glissement annuel, tandis que les demandes de prêts hypothécaires ont chuté de 5 % d'une semaine sur l'autre. Dans 10 des 50 métropoles les plus peuplées, principalement au Texas et en Floride, les prix médians des maisons ont baissé en un an.
Le prix médian de vente s'établit à 387 000 dollars, avec 39,4 % des maisons retirées du marché en moins de deux semaines, contre 42 % l'an dernier. Le ratio moyen prix de vente/prix affiché est passé de 99,1 % à 98,7 %, indiquant un pouvoir de négociation accru des acheteurs sur le marché actuel.
Redfin (NASDAQ: RDFN) berichtet, dass die mittleren Verkaufspreise für Häuser in den USA in den vier Wochen bis zum 13. April im Jahresvergleich um 2,6 % gestiegen sind, was eine deutliche Verlangsamung gegenüber dem Wachstum von 5-6 % Ende 2024 darstellt. Die Verlangsamung wird auf ein steigendes Angebot bei nachlassender Nachfrage zurückgeführt, wobei neue Angebote um 11,2 % und der gesamte Bestand um 12,3 % im Jahresvergleich zugenommen haben.
Der Wohnungsmarkt steht vor Gegenwind durch rekordhohe Wohnkosten, mit mittleren monatlichen Zahlungen von 2.819 US-Dollar, und weit verbreiteter wirtschaftlicher Instabilität. Die ausstehenden Hausverkäufe gingen im Jahresvergleich um 1 % zurück, während die Hypothekenanträge wöchentlich um 5 % sanken. In 10 der 50 bevölkerungsreichsten Metropolregionen, hauptsächlich in Texas und Florida, sind die mittleren Hauspreise im Jahresvergleich gesunken.
Der mittlere Verkaufspreis liegt bei 387.000 US-Dollar, wobei 39,4 % der Häuser innerhalb von zwei Wochen vom Markt genommen werden, gegenüber 42 % im Vorjahr. Das durchschnittliche Verhältnis von Verkaufspreis zu Listenpreis sank von 99,1 % auf 98,7 %, was auf eine gestärkte Verhandlungsmacht der Käufer im aktuellen Markt hinweist.
- New listings increased 11.2% year-over-year, indicating improved inventory
- Some markets show strong price growth, with Newark leading at 10.9% increase
- Mortgage rates decreased from 7.3% to 6.86% year-over-year
- Home price growth slowed to 2.6% from 5-6% at end of 2024
- Pending home sales declined 1% year-over-year
- Mortgage purchase applications dropped 5% week-over-week
- Record-high median monthly housing payment of $2,819
- 10 major metros experiencing year-over-year price declines
Insights
Housing market momentum clearly slowing as inventory rises while buyer demand wanes, creating a more balanced negotiating environment.
The latest Redfin housing data reveals a significant deceleration in home price appreciation, with the national year-over-year growth rate halving to 2.6% from the 5-6% seen at 2024's end. This cooling effect is even more pronounced in certain markets, with 10 of the 50 largest metros now showing actual price declines, concentrated primarily in Texas and Florida.
What's particularly telling is the divergence between supply and demand metrics. New listings have jumped 11.2% year-over-year while pending sales declined 0.8%, creating inventory accumulation that's pushing the market toward more balanced conditions. The months of supply metric has increased to 4.1 months – approaching the 4-5 month range typically considered market equilibrium.
The affordability ceiling appears to be asserting itself through two primary mechanisms: the record-high median monthly payment of $2,819 is pricing out many potential buyers, while macroeconomic uncertainty (tariffs, market volatility, recession concerns) is causing even qualified buyers to hesitate. This psychological component shouldn't be underestimated.
Perhaps most revealing is the reduction in seller leverage. The percentage of homes selling above list price has dropped to 25.8% (from 29% last year), and the average sale-to-list ratio has decreased to 98.7% (from 99.1%). These metrics confirm a material shift in negotiating power toward buyers, particularly in formerly hot markets where bidding wars were common.
Regional divergence is becoming more pronounced, with Newark (10.9%), Cleveland (10.6%), and New Brunswick (9.2%) showing robust price growth while southern markets experience price corrections. This pattern suggests a reversal of pandemic-era migration trends that had previously benefited Sun Belt regions.
The housing deceleration reflected in Redfin's data signals a noteworthy shift in consumer sentiment that extends beyond real estate. The explicit mention of "recession jitters" and "financial instability" driving buyer hesitation represents a textbook example of how economic uncertainty translates into tangible market behavior.
The timing is particularly relevant given the broader economic context. Mortgage rates remain elevated near 6.86% despite earlier expectations for Fed rate cuts, while tariff concerns and stock market volatility have eroded consumer confidence. These macroeconomic factors are creating a feedback loop: economic uncertainty reduces housing demand, which then creates additional uncertainty about home values, further suppressing demand.
What's technically significant in this data is the evidence of some sellers attempting to "front-run" a potential downturn. The notable 11.2% increase in new listings partially reflects homeowners accelerating selling decisions before economic conditions potentially deteriorate further. This behavior typically emerges during economic transition periods when sentiment begins shifting from optimism to caution.
The affordability metrics reveal structural challenges in the housing market that transcend cyclical factors. The record $2,819 median monthly payment represents a substantially higher percentage of median household income than historical norms, creating fragility in the market even without recession concerns.
Most telling is the divergence between pending sales (down 0.8%) and new listings (up 11.2%), creating a supply-demand imbalance likely to exert continued downward pressure on price growth rates. Regional variations in price trends align with labor market strength and migration patterns, with stronger performance in Northeast markets suggesting resilience in areas with diversified economic bases.
On a metro level, the median home-sale price is down from a year ago in 10 of the 50 most populous
Price growth is losing steam nationally—and prices are dropping in some metro areas—because supply is rising while demand is slow. New listings of homes for sale are up
Homebuying demand is slow for two key reasons:
-
Record-high housing costs. The median
U.S. monthly housing payment hit an all-time high of$2,819 - Widespread economic instability. Tariffs, stock-market volatility and recession jitters are weighing heavily on consumer confidence, sending many would-be buyers to the sidelines. This sense of financial instability, along with concerns that home values could decline, is making many people think twice before making a big purchase.
New listings are rising in part because some homeowners want to sell their house now before a potential economic downturn further dampens demand and possibly drives down home values. There’s also a holiday effect at play; part of the reason for the year-over-year increase in new listings is because Easter fell into the comparable period in 2024 but hasn’t occurred yet in 2025.
“A lot of buyers, especially first-timers, are backing off because they’re nervous about a potential recession,” said Venus
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Leading indicators
Indicators of homebuying demand and activity |
||||
|
Value (if applicable) |
Recent change |
Year-over-year change |
Source |
Daily average 30-year fixed mortgage rate |
|
Near highest level in 2 months |
Down from |
Mortgage News Daily |
Weekly average 30-year fixed mortgage rate |
|
Lowest level since mid-December |
Down from |
Freddie Mac |
Mortgage-purchase applications (seasonally adjusted) |
|
Down |
Up |
Mortgage Bankers Association |
Touring activity |
|
Up |
At this time last year, it was up |
ShowingTime, a home touring technology company |
Google searches for “home for sale” |
|
Up |
Up
|
Google Trends |
The Redfin Homebuyer Demand Index has been excluded this week to ensure data accuracy. |
||||
Key housing-market data
Redfin’s national metrics include data from 400+ |
|||
|
Four weeks ending April 13, 2025 |
Year-over-year change |
Notes |
Median sale price |
|
|
|
Median asking price |
|
|
|
Median monthly mortgage payment |
|
|
Record high |
Pending sales |
87,434 |
- |
|
New listings |
103,619 |
|
|
Active listings |
1,008,599 |
|
Smallest increase in a year |
Months of supply |
4.1 |
+0.7 pts. |
4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions |
Share of homes off market in two weeks |
|
Down from |
|
Median days on market |
41 |
+5 days |
|
Share of homes sold above list price |
|
Down from |
|
Average sale-to-list price ratio |
|
Down from |
|
Metro-level highlights: Four weeks ending April 13, 2025
Redfin’s metro-level data includes the 50 most populous |
|||
|
Metros with biggest year-over-year increases |
Metros with biggest year-over-year decreases |
Notes |
Median sale price |
|
|
Declined in 10 metros |
Pending sales |
|
|
Declined in roughly half the metros |
New listings |
|
|
Declined in 4 metros
|
To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-price-growth-losing-steam
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, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
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 press@redfin.com. To view Redfin's press center, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250417013289/en/
Contact Redfin
Redfin Journalist Services:
Tana Kelley
press@redfin.com
Source: Redfin
FAQ
What is causing the slowdown in RDFN's reported home price growth in 2025?
Which US metros are experiencing the largest home price decreases according to Redfin?
How have RDFN's reported pending home sales changed in major markets?
What is the current median home sale price and mortgage rate according to Redfin's data?
