BY BRAD BECKETT ON JUNE 2, 2021
Redfin says that a record high of 50% of homes sold for more than their listing price, up 23 percentage points from the same period one year earlier. Click here to read more.
In addition, a record-high 58% of homes that went under contract had an accepted offer within the first two weeks on the market.
“We are seeing some early signs that the market has reached its maximum temperature…Mortgage purchase applications and pending sales have decreased, which may be a sign that some buyers would rather spend their money on restaurants, vacations, and other things they have held back on for the past year, instead of on housing…”
“…make no mistake, the housing market is still very hot and will remain hot for the rest of the year.” said Redfin Chief Economist Daryl Fairweather.