The spring housing market is experiencing slight upticks in pending home sales and new listings, indicating potential early signs of recovery. However, inventory levels are 28% higher than the previous year, and higher withdrawal rates reflect unsold properties. The declining pending-sale-price-to-list-price ratio suggests buyers are remaining cautious and only pursuing listings they perceive as bargains. A webinar is scheduled to discuss these trends, raising questions about future growth and the potential for a stronger market in 2025, especially in varying regional contexts.
Pending home sales have shown slight increases, marking the best week since September, but still lag behind last year's numbers, indicating a fragile recovery.
The unsold inventory of homes has increased by 28% year-over-year, coupled with a rise in withdrawal rates, suggesting there is a shadow inventory waiting for better market conditions.
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