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Stock impact report

Redfin Reports Pending U.S. Home Sales Fall 6% As Would-Be Buyers Sit Out Slow Winter Market

Rocket Companies, Inc. Class A (RKT) 
Company Research Source: Business Wire
The typical home is taking 67 days to go under contract, the longest span in seven years SEATTLE--(BUSINESS WIRE)--U.S pending home sales fell 5.8% from a year earlier during the four weeks ending February 15, the biggest decline in a year. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.The typical home that does go under contract is taking 67 days to do so—a week longer than last year and the longest span since early 2019.Would-be buyers are sitting on the sidelines largely because it’s expensive to purchase a home. The median home-sale price rose 1.1% year over year, the biggest uptick in two months, and the weekly average mortgage rate is 6.09%—near the lowest level in three years, but double pandemic-era lows. The median monthly mortgage payment is $2,601, down 2.9% from a year ago, but only about $200 shy of the all-time high.Additionally, severe winter weather across much of the country kept house hunters at home over the last severa Show less Read more
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