Redfin reported a $372 drop in U.S. mortgage payments during the four weeks ending Dec. 31.

WASHINGTON – Real estate brokerage Redfin reported the median U.S. mortgage payment was $2,361 during the four weeks ending Dec. 31, down 14% from an all-time high in October.

Redfin said the $372 decline marks the lowest level of U.S. mortgage payments in nearly a year. The company said early-stage homebuying demand is beginning to pick up as buyers look to the lower rates and increasing supply, noting that new listings are up 10% year over year. Redfin also said pending sales are down 3% annually, the smallest decline in two years.

Researchers said three Florida cities are among the metro areas that saw the biggest year-over-year median sale price increases (in the four weeks ending Dec. 31):

  • West Palm Beach, FL (15.2%)
  • Fort Lauderdale, FL (15.1%)
  • Miami (11.7%)

Redfin also found Google searches for “homes for sale,” was up 3% from a month earlier (as of Dec. 30), but down 20% year over year.

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Author: amyc