As the spring market gains momentum, sellers are gradually entering despite high mortgage rates and economic uncertainty. Realtor.com economists caution that the market will likely struggle due to ongoing high costs and limited inventory, particularly affecting budget-conscious first-time buyers. Although there was a 31.2% increase in new listings, this surge is partly due to low activity during last year's Easter. Year-over-year inventory continues to rise, providing more options for buyers, but the challenges of affordability persist in today's market.
The market has shifted toward higher-priced homes selling as entry-level buyers are priced out of the market, leading to near-record-high down payments.
Major holidays, like Easter, typically lead to low housing market activity, suggesting that annual new listing growth is likely overstated.
Collection
[
|
...
]