Home Prices Slashed At Record Pace As Mortgage Rates Surge

  • Home sellers are slashing their asking prices at a record clip as surging mortgage rates drive a downturn in the US housing market, according to a recent report from real estate firm Redfin.
  • About 7.9% of home listings reported price drops during the four-week period ending Oct. 9, according to a rolling average compiled by Redfin.
  • That figure marked a record high and a significant uptick compared to the same period last year, when just 4% of listings reported price cuts.
Click to read full article

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.