Redfin: Buyers Can Start To Take Their Time
Summary
Redfin also said home sale prices continued to fall, down another 0.6% from the four-week period ending July 10. "Buyers, who earlier this year had to race to beat the competition, can now take their time touring homes and perhaps even wait to see if sellers drop the price," said Daryl Fairweather, Redfin’s chief economist. "Still, few homes are being listed, so if your dream house hits the market, you should negotiate hard, now that you have the power to. Sellers, on the other hand, may want to list sooner rather than later, before prices fall more.” Redfin also reported some indicators of homebuying activity: • For the week ending July 21, 30-year mortgage rates rose to 5.54%. On average, 7.3% of homes for sale each week had a price drop, a record high as far back as the data goes, through the beginning of 2015.