Redfin Reports U.S. Homes Are Selling at the Slowest Pace in 6 Years
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Homes are taking longer to sell because many are overpriced and demand is sluggish. Plus, sellers are competing with each other—the supply of homes for sale hit a five-year high in March. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The typical U.S. home that went under contract in March was on the market for 47 days—the longest period for any March since 2019. That’s according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. By comparison, the typical home was selling in under half that time during the peak of the pandemic homebuying frenzy.March marked five years since the coronavirus was declared a pandemic, and many U.S. housing metrics are returning to the levels seen just before or during the early days of the pandemic—when the housing market was moving slowly. Roughly one-quarter (27%) of homes sold for over their list price last month—the lowest March share since 2020.Homes are taking longer to sell and attracting less homebuyer comp
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