Sunday, November 27, 2022 | The Latest Buzz for the Appraisal Industry

Homebuyer Demand Decreased 34 Percent Year-Over-Year, Redfin Finds

Inflation has begun to slow, which is already helping bring daily mortgage rates down. However, a longer trend of lower inflation is needed for sustained rate relief. Home-sale prices rose 3.2% year over year during the four-week period ending November 6, the smallest increase since July 2020, according to Redfin. The median home sale price has fallen 8.4% since reaching an all-time high in June, when the average 30-year fixed mortgage rate was over