Home buyers, encouraged by declining mortgage rates and increased listings, are moving from the sidelines, the Redfin Homebuyer Demand Index found.
WASHINGTON – Redfin real estate found U.S. pending home sales had the smallest decline since March 2022, dropping by 4% year over year in the four weeks ending Dec. 24.
The Redfin Homebuyer Demand Index also found median sale prices across the United States had the biggest increase since Oct. 2022, “because rapidly rising mortgage rates were hampering prices during this time last year.” The year-over-year change was 4.5%. Active listings (-3.8%) saw the smallest decline since June.
Fort Lauderdale (13.6%), West Palm Beach (13.2%) and Miami (12.6%) were among Redfin’s five metro areas with the biggest year-over-year increases in median sale prices. Orlando (5%) was among Redfin’s list of metro areas with the biggest year-over-year increases in pending sales.
At the same time, Jacksonville (-10.2%), West Palm Beach (-10.2%) and Tampa (-9.6%) saw declines in their year-over-year pending sales.
© 2024 Florida Realtors®
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