LGIH - Home prices and pending sales grow; active listings drop to all-time low

Redfin's new report indicate a increase of 14% Y/Y to $320,714 in median home sale price during the 4-week period ending Dec. 20.Pending home sales surged 34% Y/Y with single week ending Dec. 20, pending sales growing 30% from the same week a year ago.New home listings for sale were up 12% Y/Y while active listings dropped 31% to an all-time low.For the week ending Dec. 20, the seasonally adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other services from Redfin agents—expanded 23% from pre-pandemic levels in January and February.Mortgage purchase applications decreased 5% week over week (seasonally adjusted) while Y/Y it was up 26% (unadjusted) during the week ending Dec. 18."Redfin's forecasts suggest the new year will bring many more new listings, but they will likely be snatched up quickly. So if you are a homebuyer, now is a good time to get pre-approved for a

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Home prices and pending sales grow; active listings drop to all-time low