A new Redfin report shows a record number of home delistings in November, with pandemic boomtowns and pricey West Coast metros seeing the biggest increases. But a recent drop in mortgage rates brings an uptick in homebuyer demand.
The National Association of REALTORS® shared their Pending Home Sales Index (PHSI) for October 2022, showing a decline for the fifth straight month, falling 4.6% from September and 37.0% from October 2021.
Yesterday’s inflation report was a huge win for mortgage rates. Agents need to take immediate action to educate consumers when mortgage rates fall and help them take advantage of this positive headline.