The median sales price of homes declined on an annual basis in 11 out of the 50 most populous metros in the United States for the four weeks ending April 20, real estate brokerage Redfin said in an April 24 statement.
Housing prices had previously decreased in the same number of metropolitan areas in September 2023.
“Home prices are falling in many major metros—and price growth is decelerating nationally—because many house hunters are backing off, but the number of homes for sale is holding up,” the brokerage said.
“Home tours are slowing, mortgage-purchase applications are falling, and Redfin agents in many parts of the country report that would-be buyers are ultra-cautious amid high housing costs and widespread economic uncertainty.”…