Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record

Source: Redfin — 

Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed. People buying homes now are paying more than ever before, too—a median $1,997 per month—as asking prices soared 16% year over year to a new high and mortgage rates shot up to their highest level since May 2019.