The spring housing market has seen a notable increase in home inventory, with listings at their highest since 2019. The U.S. housing inventory surged by 31.1% year-over-year, reflecting strong growth with over 1 million homes on the market. However, many potential buyers are hesitant to enter the market due to ongoing affordability issues and economic uncertainty. The Federal Reserve's steady interest rates contribute to the complex landscape, as analysts await new employment and inflation data to better assess market conditions and potential risks.
Although the inventory saw impressive gains at the start of May, buyer demand remained soft.
Recent employment and inflation data showed progress toward lower price growth and stable job additions, but only captured through March.
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