Competition for homes on the market is lessening, which could provide an opening for home buyers who have been losing out amid this year’s bidding wars. In August, about 59% of offers on homes written by Redfin agents faced competition, which is a record low for this year and the lowest level since 2020, according […]

  Another sign the housing market may be cooling: Loan applications for home purchases—a gauge of housing demand—are now 18% lower than a year ago, the Mortgage Bankers Association reported Wednesday. More listings are coming on the market, offering home buyers more choices. But some potential buyers are still getting priced out. Home prices are […]

  Will bidding wars continue? Will home prices stay elevated? Will home buyer demand remain strong? Heading into the fall season, economists are optimistic about the market’s direction considering its unpredictability since the beginning of the pandemic. For the most part, they agree it won’t be a return to the usual slowing pace of sales […]

Doug Yearley, CEO of the luxury home builder Toll Brothers, told CNBC that the recent drop in lumber prices is prompting some significant savings on the cost to build a home—but home buyers shouldn’t expect to see those savings. While lumber prices are falling, other material costs to build are surging. Lumber prices reached a […]