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.

Follow-through has been weak, but there's hope lower mortgage rates could improve conditions, according to new housing reports from Redfin and MBS Highway.

Both tools are currently in use by eligible customers with waitlists open to others who are interested.

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

Home prices, sales volumes, interest rates are expected to drop next year, researchers at the company forecasted.

Redfin Corp. is shuttering its iBuying business and laying off workers for the second time in almost five months, as the likelihood of a prolonged U.S. housing slowdown continues to ripple through the industry.

Activity is coming in at or below 2020 levels according to reports from the Mortgage Bankers Association and Redfin.

In a reversal of 2021 trends, inventory is increasing and price reductions are occurring across cost levels, though less often among the least expensive homes, according to reports from Zillow and Redfin.

Approximately 8% of listings on the market each week are getting a price cut, while the share of offers facing bidding wars fell below 45% in July, the brokerage's latest report found.

Home sales were down by 17% in June, while inventory increased over 27%, compared to numbers from one year ago, according to Remax.

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.