This Spring’s Housing Market Is Unseasonably Slow As Iran War, High Costs Curb Demand
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Redfin reports pending home sales are declining and touring activity is slumping SEATTLE--(BUSINESS WIRE)--U.S. pending home sales fell 4.1% from a year earlier during the four weeks ending April 12, the biggest decline in over a year. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.Sales fell in all but seven of the 50 biggest U.S. metro areas, with the largest declines in Providence, RI (-17.5%), Houston (-16.9%) and Nassau County, NY (-14.8%). The biggest increases were in San Francisco (9.6%), West Palm Beach, FL (8.2%) and Miami (6.4%).Homebuying demand is unseasonably slow. Home-touring activity is up just 11% since the start of the year, compared to a 40% increase over the same period last year, according to ShowingTime.Would-be homebuyers are backing off partly because the Iran war is causing widespread geopolitical and economic uncertainty, making some Americans wary of making a big purchase. It has also contributed to higher mortg
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