Redfin Reports The Typical Home Sells in 66 Days—the Slowest Winter Pace in a Decade
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
The typical buyer scored 1.8% off the list price—the biggest February discount since 2023; sellers outnumber buyers, giving buyers negotiating powerPending home sales and new listings both inched down last month, while home prices inched up SEATTLE--(BUSINESS WIRE)--U.S. homebuyers are taking their time as spring approaches, which is usually the busiest season for the housing market. The typical home that went under contract in February spent 66 days on the market, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s the slowest February pace since 2016 and is up from 58 days a year earlier.“House hunters have been waiting for mortgage rates to drop, and they finally fell below 6% a couple of weeks ago, which was great. One of our agents had a client lock in a 5.6% rate,” said Redfin Senior Economist Asad Khan. “But then rates bounced back. The war in Iran, skyrocketing gas prices and other economic jitters are making homebuyers nervous.”Econom
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