Shocking Redfin Report – Home Prices Will Drop? Interest Rates | Housing Market | House Prices

Selling Real Estate
Redfin shared their 2022 report. House prices and interest rates gains still. Home prices will drop in 2022? In today’s video, I share a housing market update.

– Redfin Reports Typical Buyer’s Monthly Payment Up 39% – The Biggest Annual Gain on Record

– The median home sale price was up 17% year over year – the biggest increase since August to a record $395,600.

– The median asking price of newly listed homes increased 16% year over year to $404,950, a new all-time high.

– The monthly mortgage payment on the median asking price home rose to a record high of $2,349 at the current 5.1% mortgage rate. This was up 39% from $1,685 a year earlier, when mortgage rates were 2.98%.
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