Homes selling above asking for first time in 2023

The average sale-to-list price ratio exceeded 100 percent during the four weeks ending July 2, according to data from Redfin. This is the first time in nearly a year the average home is selling for more than its asking price.

Additional data showed the median home sale price was down just 0.3 percent from a year ago, when prices were at record highs.

Read on for more details.