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The panelists of “The Claman Countdown” Dolly Lenz and Jenny Lenz analyze that the United States needs to live.
The U. S. housing market hit hard through excessive weather, from Southern California wildfires to sour without blood and snow in the Northeast, Midwest, and South, as the new year began, in addition to the emerging household charge.
These points decreased home visits and a drop in pfinishing sales in the 4 weeks ending Jan. 12, according to genuine real estate brokerage Redfin.
Still, Redfin said it’s still “too early in the new year to determine how 2025’s housing market will shape up.”
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Redfin’s Homebuyer Demand Index, which is a seasonally adjusted measure of tours and requests for other buying services from Redfin agents, has fallen 11% month over month, notching its lowest level since August.
A sell sign is shown outside the doors of a home for sale on Aug. 16, 2024, in Los Angeles, Calif. (Photo via Patrick T. Fallon/AFP) (Photo via Patrick T. Fallon/AFP via Getty Images)
Pending home sales fell 8. 4% year-over-year, marking the biggest drop since October 2023. New ads have seen their biggest annual drop since September 2023, down 3. 6% year-on-year.
The active lists of the construction of UPD through 9. 8% of one year to the next, which also the lowest construction of almost a year, according to Redfin data.
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Meanwhile, the median housing payment nationwide is also at its highest level in over two months. Home prices have jumped 5.8% year over year and daily average mortgage rates also hit their highest level since May last week.
In California specifically, homebuying demand and listings in the Los Angeles metro has been dampened due to the wildfires that started earlier this month.
The houses burn while the hard winds lead the Eaton chimney on January 7, 2025 in Pasadena, California. (David McNew / Getty images / getty images)
In turn, Redfin said that it made the purchase and rental request of those who were moved. Notably, sales waiting for Los Angeles fell 4% year-over-year and new listings fell 2. 5% during the 4-week era ending Jan. 12. Redfin is not that this fall would have been so wonderful if the forest shoots hadn’t begun.
Redfin plans to see greater decreases in the coming weeks.
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“A lot of Redfin agents turn around to help other people locate rentals as soon as possible,” said Susan Brown, a Los Angeles-based Redfin agent. “Because rentals go by so quickly, my recommendation to other people for accommodation is to touch a genuine realtor directly for help. “
A “for sale” signal in Crokett, California, June 14, 2022. (Photographer: David Paul Morris / Bloomberg Getty Images / Getty Images)
Freezing temperatures and snow in other parts of the country also remain remotely. It also prevents the owners of their homes from being for sale, according to the agency.
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