20% of home sellers slashed list price in last 4 weeks: Redfin

Abstract

Nearly one in five, or 19.1%, of sellers across the U.S. dropped prices over the four-week period ending May 22, the highest percentage since October 2019. Other metrics tracking buyer demand, including time on the market and the share of properties sold above list price, have also leveled off, Redfin reported. The median home sale price came in at $400,000. Pending sales fell in April for a sixth straight month. The National Association of Realtors and the N.A. N.C. and N.M. has recently revised its forecast for 2022 purchase originations downward. The Mortgage Bankers Association has also recently revised their forecast for 2019. The mortgage interest rate has jumped almost 2 percentage points