The global housing market is experiencing significant shifts as the spring buying season commences. In Florida, house prices are falling, with homeowners eager to sell. Similarly, China's real estate sector continues to struggle, with house prices declining in 28 of the last 31 months, marking the worst monthly decline in secondhand home prices in the most developed cities since 2011. Despite these downturns, the market is seeing some positive signs. Redfin reports a 3.8% month-over-month increase in new listings in February, the highest level since September 2022, and a 14.8% year-over-year increase. This surge in listings is contributing to a more balanced dynamic between buyers and sellers, particularly in the US where more inventory is becoming available, especially in the South. Sellers are adjusting to this new market reality by cutting list prices to attract buyers amidst higher mortgage rates. This adjustment is reflected in the increased sales volume of secondhand homes in major cities, which rose 96% year-over-year in February, reaching the highest in 20 months. While the market shows signs of thawing, with first-time buyers returning and predictions of price jumps, experts caution that the housing market is not fully recovered yet.
Spring officially starts on Tuesday and, with it, the busiest real estate market of the year! @RETradio talks to experts about how buyers can get the house they want—and how sellers can get a fast and lucrative sale. Listen now: https://t.co/yiMuFZ6Wq7 https://t.co/wyy9BkixTT
According to https://t.co/Ihh7MDZM5d® Feb housing data, the spring housing market could shape up to provide home shoppers with a more plentiful supply of less expensive homes than last year, as the number of newly listed homes has significantly increased https://t.co/QQTpAHLOY3 https://t.co/2CqQ22EleZ
"Housing supply is finally rebounding as sellers get used to elevated mortgage rates, but it’s not rebounding enough to curb home price growth." @Redfin https://t.co/xjz4qZsqib
What will Toronto's spring housing market look like? Experts say first-time buyers are back — and prices could jump 6% this year https://t.co/tkG2mEorKU
Housing market thawing but ‘battle-hardened’ buyers holding back: Redfin CEO https://t.co/y7uNwDorcx
Redfin CEO Glenn Kelman: The housing market is looking up, but ‘we’re not out of the woods yet’ https://t.co/YU4Zup9EAe
"drop in secondhand home prices comes when sales are rising, showing homeowners now accept the need to lower prices to get deals done. The number of secondhand homes sold in eight major cities rose 96% YY in Feb..sales volume was the highest in 20 months" https://t.co/kNDZtDxq7p
More homes are starting to hit the housing market as the spring market approaches, a slight reverse of a trend of homeowners deciding to stay put with low mortgage rates and an expensive and limited set of options to move into. https://t.co/dgOcMEnvGM
More homeowners eager to sell their home are lowering their initial asking price in a bid to entice prospective buyers as the spring homebuying season gets going. https://t.co/OkMQbBZP9C
Home sellers are cutting list prices as spring buying season starts with higher mortgage rates https://t.co/9Dfmif5mHk
China struggles to arrest slide in home prices as credit crunch keeps buyers away https://t.co/DKOQBbBxQH
3rd Look at Local Housing Markets in February https://t.co/Lgm2E4YMJ4 https://t.co/BtyprT6s4v
The housing market's inventory crisis is finally easing https://t.co/pkvED58Wbh
The US housing market is seeing more inventory, especially in the South, and an increasing number of sellers are lowering their asking prices https://t.co/4w3dMetwFh
A rise in the number of home listings with price cuts suggests a return to a more balanced dynamic between buyers and sellers. https://t.co/Bm3YUfETAM
More homeowners eager to sell their house are lowering their initial asking price in a bid to entice prospective buyers as the spring homebuying season gets going. https://t.co/tZRi20TFUB
The housing world's pivotal spring season is finally here. https://t.co/OGdRDdJJwB
Home sellers cutting list prices as spring buying season starts with higher mortgage rates https://t.co/JGx8v4ZXay
❖ Redfin Reports New Listings Rose to the Highest Level in 17 Months in February New listings jumped 3.8% month over month on a seasonally adjusted basis in February to the highest level since September 2022, according to a new report from Redfin. They were up 14.8% year over…
China’s real-estate slump shows no signs of losing steam after secondhand home prices in the most developed cities saw their worst monthly decline since 2011 https://t.co/Js2AclmxKx https://t.co/Js2AclmxKx
Chart of the day! House prices in #China have declined in value in 28 out of the last 31 months. There is no end to China's real estate #recesion! https://t.co/0RgQlcJA1I
Florida house prices fall as homeowners desperately try to sell https://t.co/TDhhW7TxKC https://t.co/kn9JfVPJ3W