New listings of homes for sale jumped 2.3 percent year over year for the four weeks ending Oct. 5, real estate brokerage Redfin said in an Oct. 9 statement.
The 2.3 percent gain is the largest such annual increase in more than three months.
“Some sellers listed their homes in September as the weekly average mortgage rate dipped to 6.26 percent, a 10-month low, in hopes that lower rates would lure buyers,” the brokerage said.
“But buyers aren’t budging. Pending sales fell 1.3 percent from a year ago, the biggest decline in five months, and the typical home that sells is taking 48 days to go under contract, a week longer than last year and the longest September span since 2019.”…