The housing market showed significant activity recently, with almost 740,000 single-family homes left unsold. This surpasses earlier predictions, largely due to extended high mortgage rates.
Despite the recent increases in new listings, it’s unclear if this trend signals a new market dynamic or if it is a temporary phenomenon influenced by weather conditions.
The midwest and northeast regions particularly struggle with low inventory levels, making it difficult for markets like Chicago to see a quick fluctuation in home supply.
With just under 61,000 new unsold listings this week, there is a marginal improvement from last year, suggesting a healthier market environment despite ongoing uncertainties.
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