Home Sellers Slashing Prices At Fastest Rate In Nearly Two Years: What's Going On?
Portfolio Pulse from Chris Katje
Home sellers are slashing prices at the fastest rate in nearly two years due to high mortgage rates. Redfin Corp (NASDAQ:RDFN) reported a decline in median asking prices and an increase in the percentage of price cuts. The housing market faces challenges as mortgage rates remain high, impacting home sales and purchase applications.
May 30, 2024 | 9:55 pm
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Redfin Corp reported a decline in median asking prices and an increase in the percentage of price cuts, indicating potential challenges in the housing market due to high mortgage rates.
Redfin's report highlights a decline in median asking prices and an increase in price cuts, which could negatively impact the company's revenues and stock price in the short term as the housing market faces challenges from high mortgage rates.
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