Austin and Dallas in Texas saw the biggest sale price decreases, according to real estate platform Redfin.
Home prices in two Texas cities registered the largest year-over-year drops for the four weeks ending July 7 at a time when national house prices hit record levels, the real estate platform Redfin said.To start the month, Austin saw median sale prices go down nearly 2 percent, followed by Dallas, which recorded a more than 1 percent decline.
'Homes are sitting longer than they usually do this time of year, which has led to some—but not all—homes selling for a little bit less,' Julie Zubiate, a Redfin Premier agent in the San Francisco Bay Area, said in a news release.Elevated mortgage rates were still keeping buyers away, she said.'The longer rates stay high, the pickier buyers are getting,' Zubiate said. 'Buyers will jump ship or try to negotiate the price down with any sort of tiny problem.
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