Crystal Cox/Business Insider; Samantha Lee/Business InsiderExisting home sales in August reached their lowest level since May 2020, according to Redfin.Redfin says buyers are waiting to see if mortgage rates fall further as the Fed cuts interest rates.But the housing market has already priced in an aggressive cutting cycle, Redfin says.Buyers are back on the sidelines as they wait to see if mortgage rates fall further after , a Redfin report shows.Existing home sales fell 1% in August from July, reaching a seasonally adjusted annual rate of about four million, the report finds.
Similar Stories to Home Buyers Are Holding Their Breath For Rate Cuts As Existing Home Sales Plunge To Lowest Since The Pandemic on Bing News
kcloonan@insider.com (Kelly Cloonan), Business Insider
Wed, 09/18/2024 - 7:43am
Topics: crystal cox/business samantha lee/business insiderexisting july federal reserve michael cendejas business insider insider august redfin buyers lowest pandemic rate cuts existing home sales mortgage level report rates market month fall interest waiting wait housing decline cutting priced cycle aggressive fell reaching
BING NEWS:
- Mortgage rates are coming down — and home buyers are ready to pounce
Homebuyers are rushing to take advantage of lower mortgage rates following the Federal Reserve’s recent interest rate cut.
09/19/2024 - 7:42 am | View Link - Home sales fell in August despite easing rates, greater supply of homes
Existing home sales fell 2.5% last month, from July, to a seasonally adjusted annual rate of 3.86 million ... because many prospective homebuyers were holding out for the Fed to cut rates. “So far, ...
09/18/2024 - 1:00 pm | View Link - Home buyers are holding their breath for rate cuts as existing home sales plunge to lowest since the pandemic
Existing home sales fell 1% in August from July, reaching their lowest level since the pandemic, according to a report from Redfin on Wednesday.
09/18/2024 - 3:43 am | View Link - Home sales decline as buyers await lower mortgage rates, new NAR rules, election outcome
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.
09/11/2024 - 10:35 am | View Link - More
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