"New listings jumped 10.9% week over week, climbing to 77,919 homes, while total active inventory rose 2.5% to 743,006 properties, indicating a seasonal ramp in the housing market."
"The median list price remains elevated near $445,000, creating a dynamic where supply is adjusting faster than seller expectations, with 34.7% of listings taking a price cut."
"Homes are taking time to move, with an average days on market of 118 and a median of 56 days, reinforcing the pattern that pricing is increasingly determining transactions."
The spring housing market is experiencing a typical seasonal increase in inventory and new listings, with a 10.9% rise in new listings and a 2.5% increase in total active inventory. However, median list prices remain high at approximately $445,000, creating a disconnect between supply and seller expectations. About 34.7% of listings have undergone price cuts, and homes are taking longer to sell, with an average of 118 days on the market. This situation reflects a timing issue rather than a collapse in demand, as median list prices are only down 1.1% year over year.
Read at www.housingwire.com
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