Photographer:Severe winter weather is hindering home sales across the country, according to a Thursday report from real estate company Redfin .
The median U.S. home-sale price has been steadily increasing, rising around 5% in the first four weeks of January, alongside asking prices, Redfin reported.
While low inventory – down 4% year over year – and increased purchasing power have contributed to the high price tags, Redfin said winter weather has also factored into sluggish sales.
Pending home sales are down more than 8% year over year, which Redfin reported as the biggest decline in four months.
With potential homebuyers in areas facing severe winter weather staying home, that number has continued to climb.
Persons:
Redfin, Christine Kooiker
Organizations:
National Association Of Realtors, Midwest, National Association of Realtors
Locations:
Geneseo , Illinois, U.S, California, Michigan, Redfin, Anaheim , California, New Brunswick , New Jersey, Miami , Florida