With mortgage rates still way above the pandemic lows, Redfin has found that the typical monthly payment for homebuyers is up nearly 20 percent annually. For the four weeks ending July 30, the typical U.S. homebuyer’s monthly mortgage payment was $2,605— down just $32 from early July’s all-time high.
The median home-sale price is up 3.2 percent year-over-year, the biggest increase since November. That stat comes as the total number of homes for sale is down 19 percent, the biggest drop in a year and a half. New listings are down 21 percent.
New listings fell most in Las Vegas ( down 43.4 percent annually), followed by Phoenix (-39.7 percent), Providence, RI (-32 percent), Sacramento (-31.9 percent) and Oakland (-30.7 percent).