Redfin

More than 15% of homes that went under contract in August were canceled, as the market heavily favored buyers, a Redfin report found.

Nearly 20% of homeowners had a mortgage rate of at least 6% in the second quarter of this year, signaling Americans are warming up to higher rates, Redfin said.

There were 35.2% more sellers than buyers in the market last month. June and July were the only routine months since at least 2013 with a greater percentage.

The firm is incentivizing the cross-selling of its services by offering a lower interest rate for one year for borrowers who finance via Rocket Mortgage retail LOs and use a Redfin agent.

A stockholder previously filed a lawsuit seeking to delay the Redfin shareholder vote scheduled for June 4.

Stakeholders predict the future of homebuying will offer two distinct paths: an all-in-one bundle from companies like Rocket Mortgage and the traditional, local homebuying experience.

Rocket said the Redfin deal is part of a purchase mortgage strategy, but originating and retaining residential mortgages in portfolio is the real endgame writes the chairman of Whalen Global Advisors.

Redfin data supports findings from this summer when a significant share of buyers said they would move on purchases only after the election.

Regardless of the effect housing prices have on ballot decisions, almost two-thirds of respondents indicate that current economic trends left them feeling negative about the economy, Redfin said.

Bidding wars are also coming back into play in several markets across the country, with the Northeast, in particular, seeing increased activity, according to Redfin.