The housing market is experiencing a significant shift as new listings surge, marking a notable recovery from the previous years. Redfin's weekly housing market update highlighted a 'Listings surge', with new listings rising 13% from the previous year, their biggest increase in nearly three years. This surge in listings has led to the highest level of new listings in 17 months as of February, with a 3.8% month-over-month increase and a 14.8% year-over-year increase. Concurrently, there's a growing trend of homeowners reducing their asking prices to attract buyers, indicating a shift towards a more balanced market between buyers and sellers. This adjustment in strategy is particularly evident as the spring buying season commences amidst higher mortgage rates. The increase in inventory, especially in the South, and the easing of the housing market's inventory crisis, suggest a slight reversal of the previous trend where homeowners opted to stay put due to low mortgage rates and limited housing options.
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/dMfTHPtW4h
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/HqKT8GtOXD
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
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
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…
Florida house prices fall as homeowners desperately try to sell https://t.co/TDhhW7TxKC https://t.co/kn9JfVPJ3W
A huge wave of housing inventory hit the market in February as the 'lock-in' effect eases https://t.co/kQyQ9sRk63
REDFIN: “.. New listings rose 13% from a year earlier, their biggest increase in nearly three years.” @Redfin @conorsen 🇺🇸 https://t.co/8gJ7lLCqYN https://t.co/oTxDivFfNA
Redfin titled their weekly housing market update as "Listings surge" -- even though pending sales are still muted vs 2021-22, new weekly listings are getting back closer to that pace, leading to a rise in active inventory: https://t.co/sG1mEyjo51 https://t.co/N3SHrOOR9i