- The typical home that sold in May went under contract in 34 days, breaking April's record of 36 days, according to Redfin 's (NASDAQ:RDFN) monthly real estate report.
- National median home sale price rose to $305,600, up 1.5% from April and a 6% increase from a year ago across the 174 markets that Redfin tracks.
- Denver was the fastest market, with a typical home going under contract in six days.
- Prices for homes in the San Jose, CA, market rose the fastest Y/Y; median price of $1.25M, up 28% Y/Y and 3.2% M/M.
- Overall supply of homes fell 5% Y/Y, with 2.5 months of supply remaining at the end of May; in a balanced market, there's usually about six months of supply.
- Source: Press Release
- Previously: MBA Mortgage Applications (June 13)
- ETFs: REZ
- Mortgage REITs: NLY,AGNC,CIM,TWO,ARR,ORC,NYMT, CYS, WMC,MFA,AI,IVR,DX,CMO,PMT,MTGE, ANH,EFC,CHMI
- Now read: 8.55% Preferred Shares Makes 8% Preferred Shares Look Bad
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