HOMZ - Pending home sales rise 28% with home sale price increasing 16% highest on record

A new Redfin (RDFN) report indicates median home sale price increased 16% Y/Y to $322,828, the highest on record, during the 4-week period ending Nov.29.Despite a dip during the Thanksgiving week post the typical seasonal trend, pending home sales increased 28% Y/Y in the Nov.29 ending four week period; while in the single week ending Nov. 15, pending sales were up 25% from the same week a year earlier.New listings of homes for sale increased 9% Y/Y, lowest since May first week; active listings dropped 29% Y/Y to a new all-time low.Average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to 99.5%—an all-time high and 1.5 percentage points higher than a year earlier.For the week ending Nov. 29, the seasonally adjusted Redfin Homebuyer Demand Index was up 28% from pre-pandemic levels in January and February.During the week ending Nov.27, 2020, mortgage purchase applications increased

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Pending home sales rise 28% with home sale price increasing 16%, highest on record