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Redfin Corp sees housing inventory surge while sales momentum fades on rising mortgage rates
Closed home sales have reached their highest level since 2022, according to Redfin Corp.
Despite a notable increase in inventory levels not seen in years, pending home sales remained flat as rising mortgage rates in May stalled what had been a brief acceleration in market activity. The disconnect suggests that while more homes are available for potential buyers, elevated borrowing costs are suppressing new deals and keeping market dynamics subdued.
Earlier this year, Redfin reported that over 1,200 of its agents were ranked among the top U.S. real estate professionals by National RealTrends despite challenging conditions in the housing market (link). The company also launched its Early Access program as survey data showed 84 percent of sellers were seeking more certainty in the sales process (link). These initiatives come as the company navigates continued swings in market activity.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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