Steven Rigo - Home Financing

I always thought it was red doors that helped sell a house, but apparently not... Zillow, which has never set foot in a house, determine that homes that have a front door that is either black or gray, can increase the home’s value by at least $6,271. huh,

Quiz: Which Paint Colors Help Your House Sell for More? - Zillow Research What color front door can boost the typical U.S. home sale price by 2.9 percent? Which living room color is likely to make the price of a typical home pop the most?

PURCHASE MARKET SHIFTING TO FAVOR BUYERS

Demand for homes is starting to taper off, and with more sellers coming to the market in recent weeks, this shift could be a positive sign for the buyers who remain, according to a new report from Redfin.

More sellers came to the market during the four weeks ending May 15, the report showed, and new listings climbed nearly twice as fast as they did at this time last year. The share of listings with a price drop rose to its highest level in two and a half years.

But homebuyers are hitting the brakes—mortgage purchase applications fell to their lowest level since May 2020, and the number of homebuyers touring and offering on homes posted its largest annual decline since April 2020, according to the Redfin Homebuyer Demand Index.

Fewer people searched for “homes for sale” on Google, with searches during the week ending May 14 down 11% from a year earlier.

“Desirable” homes are still getting snapped up at a record pace, spending about 15 days on the market, the report showed.