New Listings Rise For First Time in 2 Months As Lower Mortgage Rates Perk Up Homebuyers
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Redfin reports new listings and pending home sales are improving. But the homes that do go under contract are taking a long time to do so. SEATTLE--(BUSINESS WIRE)--New listings of U.S. homes for sale rose about 1% from a year earlier during the four weeks ending January 25, the first increase in more than two months. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.There are a few key reasons new listings are starting to improve:Homebuying demand is improving, too. U.S. pending home sales fell 1.6% year over year, the smallest decline in nearly two months, and mortgage-purchase applications are sitting near their highest level in three years. Some house hunters are coming out of the woodwork because housing costs are declining—the median monthly housing payment is down 6.6% from a year ago—and sellers are taking notice of the uptick in demand.Lower mortgage rates. The weekly average mortgage rate is 6.09%, up slightly from last week but sti
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