Redfin Reports Housing Supply Is Piling Up As Home Sellers Enter the Market But Buyers Stay on Sidelines
Redfin's latest report indicates a significant increase in housing supply, with new listings up by 7.4% year-over-year, reaching the highest level since early 2022. Conversely, pending sales have decreased by 6%, largely due to high home prices and mortgage rates. Nationwide, there are now five months of for-sale supply, the most since early 2019. The typical home took 57 days to go under contract, the longest period since March 2020. Median home-sale prices have risen by 4.3%, and the average 30-year fixed mortgage rate is 6.89%, down slightly from the previous week but still significantly higher than pre-pandemic levels.
Redfin's Homebuyer Demand Index has shown a slight uptick from its six-month low, suggesting potential increases in buyer activity. However, uncertainty among buyers and sellers, particularly in areas with many federal employees, persists due to return-to-office mandates and job security concerns. In Los Angeles, pending sales have risen by 3.4% after wildfires displaced many residents.
Key metrics include a median sale price of $375,750, a median asking price of $409,563, and a median monthly mortgage payment of $2,753. Active listings have increased by 11.1%, while the share of homes sold above list price has decreased to 20.9%.
Il rapporto più recente di Redfin indica un significativo aumento dell'offerta abitativa, con nuove inserzioni in crescita del 7,4% rispetto all'anno precedente, raggiungendo il livello più alto dal inizio del 2022. Al contrario, le vendite in attesa sono diminuite del 6%, principalmente a causa degli alti prezzi delle case e dei tassi ipotecari. A livello nazionale, ci sono ora cinque mesi di offerta in vendita, il numero più alto dal inizio del 2019. La tipica casa ha impiegato 57 giorni per essere messa sotto contratto, il periodo più lungo dal marzo 2020. I prezzi mediani di vendita delle case sono aumentati del 4,3%, e il tasso medio del mutuo fisso a 30 anni è del 6,89%, in leggera diminuzione rispetto alla settimana precedente ma comunque significativamente più alto rispetto ai livelli pre-pandemia.
Il Redfin Homebuyer Demand Index ha mostrato un leggero incremento dal suo minimo di sei mesi, suggerendo potenziali aumenti nell'attività degli acquirenti. Tuttavia, l'incertezza tra acquirenti e venditori, in particolare nelle aree con molti dipendenti federali, persiste a causa dei mandati di ritorno in ufficio e delle preoccupazioni per la sicurezza del lavoro. A Los Angeles, le vendite in attesa sono aumentate del 3,4% dopo che gli incendi hanno costretto molti residenti a lasciare le proprie abitazioni.
I principali indicatori includono un prezzo di vendita mediano di $375,750, un prezzo richiesto mediano di $409,563 e un pagamento mensile medio del mutuo di $2,753. Le inserzioni attive sono aumentate dell'11,1%, mentre la quota di case vendute sopra il prezzo richiesto è diminuita al 20,9%.
El último informe de Redfin indica un aumento significativo en la oferta de viviendas, con nuevas listas en aumento del 7,4% interanual, alcanzando el nivel más alto desde principios de 2022. En cambio, las ventas pendientes han disminuido un 6%, en gran parte debido a los altos precios de las viviendas y las tasas hipotecarias. A nivel nacional, ahora hay cinco meses de suministro en venta, el mayor desde principios de 2019. La casa típica tardó 57 días en ser contratada, el período más largo desde marzo de 2020. Los precios medianos de venta de viviendas han aumentado un 4,3%, y la tasa promedio de hipoteca fija a 30 años es del 6,89%, ligeramente inferior a la semana anterior, pero aún significativamente más alta que los niveles previos a la pandemia.
El Índice de Demanda de Compradores de Redfin ha mostrado un ligero aumento desde su mínimo de seis meses, sugiriendo posibles incrementos en la actividad de los compradores. Sin embargo, la incertidumbre entre compradores y vendedores, particularmente en áreas con muchos empleados federales, persiste debido a los mandatos de regreso a la oficina y las preocupaciones sobre la seguridad laboral. En Los Ángeles, las ventas pendientes han aumentado un 3,4% después de que los incendios forestales desplazaran a muchos residentes.
Los indicadores clave incluyen un precio de venta mediano de $375,750, un precio de lista mediano de $409,563 y un pago mensual mediano de hipoteca de $2,753. Las listas activas han aumentado un 11,1%, mientras que la proporción de casas vendidas por encima del precio de lista ha disminuido al 20,9%.
레드핀의 최신 보고서에 따르면 주택 공급이 크게 증가했으며, 새로운 매물은 전년 대비 7.4% 증가하여 2022년 초 이후 가장 높은 수준에 도달했습니다. 반대로, 대기 판매는 주택 가격과 모기지 이자율 상승으로 인해 6% 감소했습니다. 전국적으로 현재 판매용 주택은 5개월 분량으로, 2019년 초 이후 가장 많이 공급되고 있습니다. 일반적인 주택은 계약 체결에 57일이 걸렸으며, 이는 2020년 3월 이후 가장 긴 기간입니다. 중간 주택 판매 가격은 4.3% 상승했으며, 평균 30년 고정 모기지 이자율은 6.89%로, 지난주보다 약간 하락했지만 여전히 팬데믹 이전 수준보다 훨씬 높은 수치입니다.
레드핀의 주택 구매자 수요 지수는 6개월 최저치에서 약간 상승하여 구매자 활동의 잠재적 증가를 시사합니다. 그러나 특히 많은 연방 직원이 있는 지역에서는 사무실 복귀 명령과 직업 안정성 문제로 인해 구매자와 판매자 간의 불확실성이 여전히 존재합니다. 로스앤젤레스에서는 화재로 인해 많은 주민들이 이주한 후 대기 판매가 3.4% 증가했습니다.
주요 지표로는 중간 판매 가격이 $375,750, 중간 요청 가격이 $409,563, 중간 월 모기지 상환액이 $2,753입니다. 활성 목록은 11.1% 증가했으며, 목록 가격 이상으로 판매된 주택의 비율은 20.9%로 감소했습니다.
Le dernier rapport de Redfin indique une augmentation significative de l'offre de logements, avec de nouvelles annonces en hausse de 7,4 % par rapport à l'année précédente, atteignant le niveau le plus élevé depuis début 2022. En revanche, les ventes en attente ont diminué de 6 %, principalement en raison des prix élevés des maisons et des taux hypothécaires. À l'échelle nationale, il y a maintenant cinq mois d'offre à vendre, le plus depuis début 2019. La maison typique a mis 57 jours à être sous contrat, la période la plus longue depuis mars 2020. Les prix médians de vente des maisons ont augmenté de 4,3 %, et le taux hypothécaire fixe moyen sur 30 ans est de 6,89 %, en légère baisse par rapport à la semaine précédente, mais toujours significativement plus élevé qu'avant la pandémie.
L'indice de demande des acheteurs de Redfin a montré une légère hausse par rapport à son plus bas niveau en six mois, suggérant des augmentations potentielles de l'activité des acheteurs. Cependant, l'incertitude parmi les acheteurs et les vendeurs, en particulier dans les zones avec de nombreux employés fédéraux, persiste en raison des mandats de retour au bureau et des préoccupations concernant la sécurité de l'emploi. À Los Angeles, les ventes en attente ont augmenté de 3,4 % après que des incendies de forêt ont déplacé de nombreux résidents.
Les indicateurs clés comprennent un prix de vente médian de 375 750 $, un prix demandé médian de 409 563 $ et un paiement hypothécaire mensuel médian de 2 753 $. Les annonces actives ont augmenté de 11,1 %, tandis que la part des maisons vendues au-dessus du prix demandé a diminué à 20,9 %.
Der neueste Bericht von Redfin zeigt einen signifikanten Anstieg des Wohnungsangebots, wobei die neuen Angebote im Vergleich zum Vorjahr um 7,4% gestiegen sind und den höchsten Stand seit Anfang 2022 erreicht haben. Im Gegensatz dazu sind die ausstehenden Verkäufe um 6% gesunken, was hauptsächlich auf die hohen Immobilienpreise und Hypothekenzinsen zurückzuführen ist. Auf nationaler Ebene gibt es jetzt fünf Monate an verfügbaren Angeboten, was der höchste Stand seit Anfang 2019 ist. Ein typisches Haus benötigte 57 Tage, um unter Vertrag genommen zu werden, was die längste Zeit seit März 2020 ist. Die medianen Verkaufspreise für Häuser sind um 4,3% gestiegen, und der durchschnittliche Zinssatz für eine 30-jährige Festhypothek liegt bei 6,89%, was leicht unter dem Vorwochenniveau liegt, aber immer noch deutlich höher ist als vor der Pandemie.
Der Redfin Homebuyer Demand Index hat einen leichten Anstieg von seinem sechsmonatigen Tiefpunkt gezeigt, was mögliche Anstiege der Käuferaktivität andeutet. Allerdings bleibt die Unsicherheit unter Käufern und Verkäufern, insbesondere in Gebieten mit vielen Bundesangestellten, aufgrund von Rückkehrmandaten ins Büro und Bedenken hinsichtlich der Arbeitsplatzsicherheit bestehen. In Los Angeles sind die ausstehenden Verkäufe nach den Waldbränden, die viele Bewohner vertrieben haben, um 3,4% gestiegen.
Wichtige Kennzahlen umfassen einen medianen Verkaufspreis von 375.750 $, einen medianen Angebotspreis von 409.563 $ und eine mediane monatliche Hypothekenzahlung von 2.753 $. Aktive Angebote sind um 11,1% gestiegen, während der Anteil der über dem Listenpreis verkauften Häuser auf 20,9% gesunken ist.
- New listings increased by 7.4% year-over-year.
- Homebuyer Demand Index shows a slight uptick from a six-month low.
- Median home-sale prices rose by 4.3% year-over-year.
- Pending sales fell by 6% year-over-year.
- The typical home took 57 days to go under contract, the longest since March 2020.
- High mortgage rates and home prices are deterring buyers.
Insights
The housing market is showing clear signs of structural imbalance, with inventory accumulation reaching levels not seen since 2019. The 7.4% year-over-year increase in new listings coupled with a 6% decline in pending sales signals a potential shift in market dynamics that could pressure home prices in the coming months.
The 57-day median time to contract represents a critical efficiency metric that has deteriorated to pandemic-era levels. This extended sales cycle directly impacts Redfin's operational costs and revenue recognition timing, as longer listing periods mean increased carrying costs and delayed commission realization.
A particularly noteworthy development is the early surge in listings, breaking from typical seasonal patterns where listing activity peaks in March or April. This unusual timing suggests sellers may be attempting to get ahead of anticipated market challenges, potentially creating a more competitive environment that could compress margins for real estate brokerages.
The regional variations in market performance are striking and strategically significant. Markets with high concentrations of federal workers are experiencing unique dynamics due to return-to-office mandates and job security concerns. This is creating both opportunities and challenges in key markets like Washington D.C., where Redfin has historically maintained a strong presence.
The Los Angeles market's 3.4% increase in pending sales, potentially driven by wildfire displacement, highlights how localized events can create pockets of opportunity even in a challenging national market. However, investors should note that this could be a temporary phenomenon rather than a sustainable trend.
The market's current state presents a complex operating environment for Redfin. While increased listing volume typically benefits brokerages, the combination of higher inventory levels and slower sales velocity could pressure transaction margins and increase operating costs. The company's technology-driven model may provide some cost advantages in managing this higher inventory environment, but sustained market imbalances could impact profitability metrics.
New listings are up
New listings rose
Pending home sales, meanwhile, fell
But more homebuyers may come out of the woodwork soon. Redfin’s Homebuyer Demand Index—a measure of tours and other buying services from Redfin agents—is up slightly from the six-month low it dropped to in late January, and agents report they’re seeing more house hunters.
“I’ve met with a lot of potential sellers over the last few weeks. Listings typically pick up in March or April, but this year it’s happening earlier,” said Fernanda Kriese, a Redfin Premier agent in
Redfin agents report uncertainty among buyers and sellers in areas with a lot of federal employees
Redfin agents in
-
“I recently worked with a couple who bought their dream home with me a few years ago, but now they’re considering listing because they want to be closer to public transportation. They both work for the government, and want a more convenient commute because they’ll need to return to in-person work soon.” —Stuart Naranch, Redfin Premier agent in
Washington, D.C. -
“Since the inauguration, I’ve met with a few people, including one federal government employee, who are selling specifically because of anticipated return-to-office orders. I also spoke to a client who was looking to sell and upgrade to a larger home, but he canceled those plans because he’s worried about losing his job due to restructuring of government jobs.”—Jo Chavez, Redfin Premier agent in
Kansas City, MO
Pending sales are ticking up in
Pending home sales in the
It’s possible the uptick stems from the Palisades and Eaton fires, which destroyed thousands of homes in the
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 |
|
Up from |
Up from |
Mortgage News Daily |
Weekly average 30-year fixed mortgage rate |
|
Down from |
Up from |
Freddie Mac |
Mortgage-purchase applications (seasonally adjusted) |
|
Down |
Up |
Mortgage Bankers Association |
Redfin Homebuyer Demand Index (seasonally adjusted) |
|
Up |
Up
|
Redfin Homebuyer Demand Index, a measure of tours and other homebuying services from Redfin agents |
Touring activity |
|
Up |
At this time last year, it was up |
ShowingTime, a home touring technology company |
Google searches for “home for sale” |
|
Essentially unchanged from a month earlier (as of Feb. 10) |
Essentially unchanged
|
Google Trends |
Key housing-market data
Redfin’s national metrics include data from 400+ |
|||
|
Four weeks ending Feb. 9, 2025 |
Year-over-year change |
Notes |
Median sale price |
|
|
|
Median asking price |
|
|
|
Median monthly mortgage payment |
|
|
|
Pending sales |
70,008 |
- |
|
New listings |
78,828 |
|
Biggest increase in 6 weeks |
Active listings |
902,657 |
|
Smallest increase in nearly a year |
Months of supply |
5 |
+0.6 pts. to longest span since early 2019 (tied with 4 weeks ending Jan. 19 and Jan. 26) |
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 |
57 |
+7 days to longest span since March 2020 |
|
Share of homes sold above list price |
|
Down from |
|
Average sale-to-list price ratio |
|
Down from |
|
Metro-level highlights: Four weeks ending Feb. 9, 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 4 metros |
Pending sales |
|
|
Increased in 6 metros |
New listings |
|
|
Declined in 17 metros
|
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-listings-piling-up-pending-sales-falling
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/20250213673176/en/
Redfin Journalist Services:
Tana Kelley
press@redfin.com
Source: Redfin
FAQ
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