Reported 4 days ago
US homebuyers are re-engaging with the market after the 2024 elections and following Federal Reserve guidance on interest rates, as evidenced by a 3.4% rise in existing home sales in October—marking the first year-over-year increase since 2021. The head of economic research at Redfin notes a substantial 20% year-over-year increase in inquiries for home tours, the highest rate since August 2023, despite ongoing affordability challenges due to rising prices and interest rates.
Source: YAHOO