Redfin Reports Inventory Growth Loses Steam As Would-Be Sellers React to Lackluster Homebuying Demand
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Even though mortgage rates have come down from their peak, housing costs are still too high for many would-be buyers SEATTLE--(BUSINESS WIRE)--Housing inventory is losing momentum, with growth in total supply slowing down, new listings stalling and delistings becoming more common. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.The supply of U.S. homes for sale rose 5.1% year over year during the four weeks ending November 30, the smallest increase in nearly two years.New listings rose just 0.9%, the smallest uptick in two months, with many homeowners opting to stay put rather than put their home on the market when demand is slow.Some of the homes that are listed are eventually pulled from the market without being sold. Delistings have jumped in recent months, with many sellers unwilling to sell for a lower price.Pending home sales fell 2.6% from a year earlier, the biggest decline in eight months. The typical home that does sell sits on th
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