Home sellers are cutting list prices as spring buying season starts ...

Mar 15, 2024 · The pickup in the share of home listings with price cuts is a sign the housing market is shifting back toward a more balanced dynamic between buyers and sellers. Rock-bottom mortgage rates in the first two years of the pandemic armed homebuyers with more …

7%
OFF

Home Listings Are Up, But Price Tags Could Turn Off Buyers

2 weeks from now

Jan 3, 2025 · A report from real estate data firm Redfin showed that the number of houses listed for sale in December was 9.7% higher than a year earlier, lifted up by a 7.7% jump in new …

investopedia.com

$899000
OFF

“It Seems Impossible:” Bergen County, NJ's Housing Market Is …

2 weeks from now

Mar 8, 2024 · That’s despite median list prices climbing to a record $899,000 in the first week of March 2024, up nearly $150,000 from March 2022, which Altos considers the market’s peak.

housingwire.com

6%
OFF

North Bergen Housing Market Report - Rocket Homes

2 weeks from now

Summary: North Bergen housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes …

rockethomes.com

3%
OFF

North Bergen Housing Market: House Prices & Trends | Redfin

2 weeks from now

Today's mortgage rates; Payment calculator; ... In November 2024, North Bergen home prices were down 13.3% compared to last year, selling for a median price of $530K. On average, …

redfin.com

$25000
OFF

North Bergen Township NJ Real Estate & Homes For Sale - Zillow

2 weeks from now

4 days ago · North Bergen Township Home values; Sellers guide; Selling options. Find a seller's agent; Post For Sale by Owner; ... Price cut: $25,000 (12/18) 133 73rd St #13, North Bergen, …

zillow.com

FAQs about Home sellers are cutting list prices as spring buying season starts ... Coupon?

Are sellers cutting prices?

“Sellers are cutting prices, but it just means we’re seeing smaller price gains than we would otherwise have seen,” said Danielle Hale, chief economist at Realtor.com. The pickup in the share of home listings with price cuts is a sign the housing market is shifting back toward a more balanced dynamic between buyers and sellers. ...

Are high mortgage rates stifling supply?

But high mortgage rates are also stifling supply, adding to the price pressure. Nearly 90 percent of homes in America have rates below 6 percent, according to real estate platform Redfin, which means sellers are reluctant to relinquish the cheaper home loans and enter a market where a 30-year fixed rate for a home is above 7 percent. ...

Will home price hikes be resolved soon?

U.S. home prices hit a new record high in November, marking the 10th consecutive month of price hikes. The problem is unlikely to be resolved anytime soon. "A more substantial improvement in mortgage rates is necessary to attract more sellers to the market," Realtor.com economist Jiayi Xu said in a statement. ...

What percentage of homes have been lowered in January?

That’s up from 13.2% a year earlier, the first annual increase since May. In January, the percentage of homes on the market with price reductions was 14.7%. The share of home listings that have had their price lowered is running slightly higher than the monthly average on data going back to January 2017. ...

How much did a home sell for in January?

The sale price for a home came in at a little over $379,000 on the back of limited supply in January, a record high. " [It marked] the highest sales price ever for the month of January and the seventh consecutive month of year-over-year price gains," Wells Fargo economists pointed out. ...

Why are homeowners lowering their asking price?

More homeowners eager to sell their home are lowering their initial asking price in a bid to entice prospective buyers as the spring homebuying season gets going. Some 14.6% of U.S. homes listed for sale last month had their price lowered, according to Realtor.com. That’s up from 13.2% a year earlier, the first annual increase since May, 2023. ...