Housing market update from Redfin - demand down, price down
Apr 17
12 Comments
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Housing Market Update: Demand Slips, Pushing More Sellers to Drop Asking Prices 
Redfin Real Estate News
comments
āThe sharp increase in mortgage rates is pushing more homebuyers out of the market, but it also appears to be discouraging some homeowners from selling. With demand and supply both slipping, the market isnāt likely to flip from a sellerās market to a buyerās market anytime soon.ā
So no, the crash is not coming. Number of listings are still over 20% less than they were last year which means supply is continuing to go down. Really looks like 2021 was the best time to buy a house (okay supply, low interest rates).
Some prices are dropping but if youāre in a popular area this isnāt going to apply to you just yet. I donāt think this summer is going to have a lot of listings just dropping in price in places like SF or Seattle.
Itās expected and priced in