{"id":538774,"date":"2021-09-15T14:44:17","date_gmt":"2021-09-15T18:44:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-pending-sales-show-smallest-year-over-year-increase-in-15-months\/"},"modified":"2021-09-15T14:44:17","modified_gmt":"2021-09-15T18:44:17","slug":"redfin-reports-pending-sales-show-smallest-year-over-year-increase-in-15-months","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-pending-sales-show-smallest-year-over-year-increase-in-15-months\/","title":{"rendered":"Redfin Reports Pending Sales Show Smallest Year-Over-Year Increase in 15 Months"},"content":{"rendered":"
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However, home prices rose 14% from a year earlier.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n SEATTLE<\/span>, Sept. 15, 2021<\/span> \/PRNewswire\/ — (NASDAQ: RDFN) \u2014 Pending sales climbed 7% during the four-week period ending September 12<\/span>, the smallest year-over-year increase since June 2020<\/span>, according to a new report<\/a><\/u> from Redfin (redfin.com<\/a><\/u>), the technology-powered real estate brokerage. <\/p>\n

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\n \"Redfin
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Of homes that sold during the period, just under half went for more than their asking price, the smallest share since mid-May, as the housing market continued to follow a typical seasonal pattern of end-of-summer cooling. Home sale prices flattened like they typically do this time of year, though they were still 14% higher than a year earlier. However, sellers’ asking prices rose 1.7% from the four-week period ending September 5<\/span>. Asking prices often rise through September, but this increase was larger than the 1% that we saw over the same period in 2019, suggesting that home sellers may be feeling optimistic about demand from homebuyers.<\/p>\n

“Homebuying demand is being propped up by a number of factors, including first-time buyers deciding to buy now that rents are rising at their fastest rate since at least the start of the pandemic,” said Redfin Chief Economist Daryl Fairweather<\/span>. “And now that enhanced unemployment benefits are ending, even more people may look to relocate for a new job. This sustained demand is likely why home prices have picked back up in recent weeks. Hopefully it will translate into more new listings too.”<\/p>\n

\n Key housing market takeaways for 400+ U.S. metro areas:
<\/b>Unless otherwise noted, this data covers the four-week period ending September 12<\/span><\/b>. Redfin’s housing market data goes back through 2012.<\/p>\n