US Existing-Home Listings Reach Four-Year High
On Thursday, Redfin reported that new listings of US homes for sale rose 2.1% from a week earlier on a seasonally adjusted basis during the four weeks ending August 30, reaching their highest level in four years.
Active listings also increased, rising 0.4% week-over-week. Demand remained comparatively weak, with pending home sales down 0.1% from a week earlier to their lowest level since February.
The typical US home-sale price rose 2.2% year-over-year, while the average weekly mortgage rate was 6.66%, near its highest level in the past year. Meanwhile, the median US asking price edged 0.1% lower year-over-year.
Redfin also reported that 25.9% of US homes sold during the period went for more than their asking price.
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