Redfin

As potential homebuyers anticipate mortgage rates to keep rising, September was a strong month for housing demand, according to Redfin.

Thousands of homeowners in San Francisco, Los Angeles and Chicago are headed out of town.

A typical homebuyer has already lost over 6% of purchasing power because of rising interest rates since the start of the year, a study by Redfin found.

Declining home sales and high mortgage rates led to a year-over-year increase in housing stock in September, according to Redfin.

As more sellers lower their asking prices and competition eases, the share of homes sold above their listing keeps declining, according to Redfin.

As mortgage rates jump and housing inventory rises, over a quarter of all home listings dropped their price in the past month, according to Redfin.

There is a sharp increase in the number of Denver-area residents searching for homes in other metros compared to the number of people in other cities looking for properties in the area, according to Redfin.

Staggering home prices and steep tax rates are pushing people from expensive cities along the coasts to more affordable locales.

Both home price increases and the reduction in the houses for sale inventory slowed in June, a good sign for purchase activity picking up in the second half of the year, according to Redfin.

Prices have been surging for years on the West Coast as house hunters fight for the few available listings. Now the tide could be shifting.