The median existing home price in March was $393,500, up 4.8% from the previous year, with all U.S. regions seeing price gains.
Existing-home sales fell 4.3% in March, but the low inventory is due to homeowners' strong financials, not distress sales, thanks to the qualified mortgage rule of 2010.
While existing home sales are at a low, new listings are increasing year over year, providing potential buyers for 2024 and possibly balancing demand, as long as rates stabilize.
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