Home asking prices hit record high
A real estate for sale sign is seen in front of a home in Arlington, Virginia on Nov. 19, 2020. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)
NEW YORK - Home sellers are currently riding a great wave of pricing, according to a new housing market report.
Redfin, the real estate brokerage company, says in a new report that the asking prices for newly-listed homes hit an all-time high in September.
According to the report, asking prices of newly listed homes were up 12% from the same time a year ago to a median of $361,250, an all-time high
Fewer than half of the homes on the market, however, are selling above their listing prices, and Redfin's Chief Economist, Daryl Fairweather, says markets and the feds are sending signals mortgage rates could soon go up, which could further slow housing sales.
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