Homebuying has just become more affordable for the first time since 2020, according to a new Redfin report.

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

At a time of year when the real estate market typically experiences seasonal declines, this fall is bringing just the opposite.

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.

Specifically, prices rose 4.3% annually after growing by 4.7% in June. 

A look at key data points in the Seattle residential real estate market.

Greater Seattle’s median home price has increased 8.6% from last year.

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

Housing inventory reached its highest level since the pandemic in July, according to Realtor.com’s July Monthly Housing Markets Trends Report. 

The average 30-year fixed mortgage rate dropped more than a quarter point since last week.

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

There are plenty of ways to upgrade a home without knocking down walls or hiring a whole construction crew.

Just 13% of respondents expect an increase in buyer traffic in the next three months.

Seattle is one of the most affordable cities in the country for people who work from home, according to a report from CoworkingCafe.