The Latest Breaking News from Redfin

For the first time in close to a year, the pace of annual home price inflation dipped. Still, home prices and mortgage rates are considerably higher than before the pandemic.

“These pandemic boomtowns, they just got way too expensive over the last two or three years,” chief executive of Reventure Consulting and Reventure App said.

Luxury homes sought by the richest buyers offer eye-catching amenities and high-end décor. Double vanities, kitchen islands and heated floors are among the most sought-after details by the wealthiest homebuyers.

“A drop in mortgage rates would bring both buyers and sellers back to the market, which could either accelerate price growth or pull it back,” a Redfin economist said.