A rise in new listings is giving buyer’s in the new year more homes to choose from, according to a new report from Redfin.

The median-sales price slid from $425,600 in October to $402,600 last month. 

The year-over-year increase of 6.1% is the greatest since June 2021, according to the association. 

Miami is the sixth-priciest rental market in the country, according to Zumper’s November National Rent Report.

September pending home sales rose 7.4% to their highest level since March, according to the National Association of REALTORS®.

While the average monthly housing payment in the U.S. fell to its lowest level since the start of the year, it isn’t improving sales, as potential buyers are holding out for lower mortgage rates.

Despite record high prices, two factors are creating opportunities for homebuyers this summer: falling mortgage rates and rising supply.

With the spring market right around the corner, the U.S. housing supply finally got a boost. 

Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.

Downtown Miami’s residential real estate market is making a full recovery as area neighborhoods continue to see rapid development, according to a report from the Miami Downtown Development Authority (Miami DDA).

“Fewer homes are selling because of a lack of supply, while demand remains strong.” — Redfin chief economist Daryl Fairweather

Homebuyers’ interest in moving to a new metro area remains elevated above pre-pandemic levels as remote work becomes the new normal. In November, Miami was the most popular relocation destination of any major U.S. metro for the fourth straight month, according to a new report from Redfin.

As more money is being spent on real estate than ever before, the booming market is on pace to shatter records this year, according to a recent CoreLogic report.