September pending home sales rose 7.4% to their highest level since March, according to the National Association of REALTORS®.

While the average monthly housing payment in the U.S. fell to its lowest level since the start of the year, it isn’t improving sales, as potential buyers are holding out for lower mortgage rates.

The combination of rising inventory and price reductions in Atlanta and nationwide is creating a more buyer-friendly market.

With the spring market right around the corner, the U.S. housing supply finally got a boost. 

Days on market increased, while housing starts decreased, according to the May edition of the Atlanta Housing Scorecard.

Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.

In Atlanta, 36 homes sold for at least $100,000 over asking price, up from four in 2021.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

Days on market for homes sold in Atlanta fell to 52 from 64 a year earlier.

December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.

“Fewer homes are selling because of a lack of supply, while demand remains strong.” — Redfin chief economist Daryl Fairweather

As more money is being spent on real estate than ever before, the booming market is on pace to shatter records this year, according to a recent CoreLogic report.

Investors across the country are looking to cash in on skyrocketing house prices and rents, putting them in competition with new buyers trying to work their way to homeownership. Real estate investors bought a record 18% of the homes sold in the third quarter, according to a new Redfin report.

The demand for housing in the U.S. has reached a new all-time high since 2017, a rare occurrence for this time of year when the market typically slows. According to a Redfin report, a recovering economy and all-time low mortgage rates are critical factors in the current market. 

As dramatic rent prices impact states across the nation, renters are searching for more affordable places to call home. Nationally, the median rent price is up over 16% since January, with some cities seeing double that, according to a recent Apartment List report.