Authored by Naveen Athrappully via The Epoch Times(emphasis ours),
The median home sales price in the United States jumped 2.4 percent in April from a year ago, the largest increase since March 2025, real estate brokerage Redfin said in a May 12 statement.
The company attributed the price increase to more buyers entering the housing market amid a stabilizing job market. In April, the United Statesadded115,000 jobs, well above the expected 62,000.
“The April jobs report showed stronger-than-expected hiring, reducing recession risk. This likely helped fuel a pop in housing demand. Pending home sales hit the highest level since February 2023 last month, rising 2 percent from the month before—the largest increase since March 2025,” Redfin said.
In addition to buyers coming off the sidelines, sellers are also doing the same, with active listings of homes for sale in April hitting the highest level since March 2020.
Lower mortgage rates are incentivizing prospective buyers to consider purchases. Last year, the weekly average rate of the 30-year fixed-rate mortgage had hit an annual peak of 7.04 percent in mid-January, according to data from Freddie Mac.
The rate has come down to 6.37 percent for the week ending May 6.It had declined below the 6 percent level in February, the first time this has happened since September 2022.
Amid the jump in home sale prices in April, discounts offered on home purchases are tapering, Redfin said.
Last month, the share of homes sold for less than their original listed price was 60.5 percent—the sixth straight month of decline. According to the brokerage, securing discounts is getting harder as demand grows and sellers price homes more competitively.
“Homebuyer demand increased significantly at the end of March following a relatively quiet period in January and February.This is the first time post-pandemic I’ve felt the frenzy and comeback of a true spring market,”said Dawn Kane, a Redfin Premier real estate agent.
Source: ZeroHedge News
