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‘The Claman Countdown’ panelists Dolly Lenz and Jenny Lenz analyze top places Americans want to live.
The US housing market was barely affected by extreme weather conditions (wildfires in Southern California, frost and snow in the Northeast, Midwest and South) at the beginning of the new year, in addition to increased load. of housing.
These problems slowed home visits and a drop in sales of finished goods in the four weeks ending Jan. 12, according to real estate brokerage Redfin.
Still, Redfin said it’s still “too early in the new year to determine how 2025’s housing market will shape up.”
THESE WERE THE MOST EXPENSIVE HOMES SOLD IN 2024, ACCORDING TO REDFIN
The Redfin Buyer’s demand index, which is a measure of seasonal visits and the purchase requests of Redfin agents, fell 11% monthly, reaching its lowest point from Augusarray
A for sale sign is displayed outside a home for sale on Aug. 16, 2024, in Los Angeles, California. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) / Getty Images)
Pending home sales fell 8.4% year over year, which marked the biggest decline since October 2023. New listings had their biggest annual decline since September 2023, falling 3.6% on an annual basis.
Active listings rose 9.8% year over year, which was also the smallest increase in nearly a year, according to Redfin data.
The main home holiday markets in the United States.
At the same time, the national median home payment is also at its highest point in more than two months. Housing costs rose 5. 8% year-over-year and average loan rates also hit their highest point since May last week.
In California specifically, applications to buy and sell homes in the greater Los Angeles area have been impacted by wildfires that began earlier this month.
The houses burn while strong winds light the Eaton fire on January 7, 2025 in Pasadena, California. (David McNew/Getty images/getty images)
In turn, Redfin said that this was driven through the call to buy and hire the displaced. Notably, Los Angeles pending sales fell 4% year over year and new listings fell 2. 5% over the four weeks. On January 12th. Redfin wouldn’t have been as big if the wildfires hadn’t started.
Redfin is also projecting to see bigger declines in the coming weeks.
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“Many Redfin agents are pivoting to helping people find rentals as soon as possible,” said Susan Brown, a Los Angeles-based Redfin Premier agent. “Because rentals are going so fast, my advice for people searching for housing is to directly reach out to a real estate agent for help.”
A “Sale” signal in Crokett, California, June 14, 2022. (Photographer: David Paul Morris/Bloomberg Getty Images/Getty Images)
The frigid temperatures and snow in other parts of the country are also keeping buyers at bay. It is also delaying homeowners from putting up their homes for sale, according to the agency.
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