Tag Archives: price cuts

Summer slump sees buyers back out of deals at record rates

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Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56,000 home-purchase agreements in June, according to Redfin. Continue reading →

New San Francisco showroom offers private islands and yachts

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Demand for some of the most exclusive luxuries remains, even as the city of San Francisco itself grapples with plunging home prices and an all-time high in office vacancies. Continue reading →

45% of sellers offered concessions coming into 2023: Redfin

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After several years of bidding wars and waived contingencies, the scales are starting to tip in homebuyers’ favor, according to Redfin’s latest market report published on Wednesday. During the three months ending Feb. 28, 45.5 percent of homesellers of… Continue reading →

Mark Wahlberg’s sweeping Beverly Hills mansion brings in $55M

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Mark Wahlberg and his wife, Rhea Durham, initially listed the 30,500-square-foot property for $87.5 million in April 2022 but dropped the ask by $8 million after it sat on the market for several months. Continue reading →

One-time $100M Bel Air mansion falls to Earth with huge price cut

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“Realistically in this market, this is what it’s worth – it’s priced to sell,” said Shawn Elliott of Nest Seekers, one of the agents who listed the property last week. Continue reading →

Luxury holds steady despite overall Manhattan market slowdown in Q4

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As prices and transaction volume both fell in Manhattan’s market at large year over year, luxury properties priced at or above $10 million still managed to perform well to close out 2022. Continue reading →

Homesellers are slashing prices. Here’s how to spot deals right away

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Homebuyers searching for price cuts on search portals are sure to get lucky if they check on this specific day of the week and check back again after 3 weeks, according to a new analysis by Zillow. Continue reading →

Always a bridesmaid, rarely a bride, first-time buyers make big return

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First-time homebuyers now make up 45 percent of all transactions, up from 37 percent of all buyers in 2021, returning to pre-pandemic levels, according to new data from Zillow released Thursday. Continue reading →

What do fast-cooling markets have in common? These 5 offer a hint

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In some of the nation’s most quickly slowing housing markets, the number of new listings is twice the number of recent sales, according to an analysis by SmartAsset. Continue reading →

A new normal, or a ‘new weird’? Home prices climb despite 6% rates

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As mortgage rates rose in recent weeks, so did home prices and purchase-loan applications. It’s a strange time, a Redfin economist says. Continue reading →