Home Sale Analysis Sept. 2024

In this episode of the Houmify Podcast, we dive into the recent decline in pending home sales, despite the ongoing drop in mortgage rates. We explore the uncertainty potential buyers are facing with the new National Association of Realtors (NAR) settlement rules, the upcoming presidential election, and the possibility of further rate cuts.

Our discussion highlights how Redfin agents are observing a cautious approach among buyers—many are actively touring properties but hesitate to commit to a purchase due to these unresolved factors. We analyze key housing market indicators, such as mortgage-purchase applications, property touring activity, and rising Google searches for "home for sale," to provide a comprehensive overview of the current demand and market activity.

Finally, we examine how these elements are influencing home prices, median mortgage payments, and other critical housing market metrics. Tune in to get the latest insights and trends in the evolving real estate landscape!