The U.S. housing market is experiencing significant shifts as new listings surge and homeowners adjust their strategies in response to changing market dynamics. Redfin's latest report highlights a 13% increase in new listings from the previous year, marking the largest rise in nearly three years. This uptick in listings is contributing to a growing active inventory, with the total number of homes for sale rising by 3%, the most substantial increase in nine months. Despite this influx of inventory, mortgage applications to buy a house remain 11% below last year's level and 45% below 2022, indicating continued low homebuyer demand. As the spring buying season commences, more homeowners are reducing their initial asking prices to attract prospective buyers, signaling a shift towards a more balanced market dynamic between buyers and sellers. This trend is particularly pronounced in the South, where the inventory crisis appears to be easing. Redfin CEO Glenn Kelman notes that while the market is showing signs of improvement, challenges remain.
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
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
The housing world's pivotal spring season is finally here. https://t.co/OGdRDdJJwB
Things to watch as the 'lock-in effect' eases & new listings accelerate faster than last year: - Active national inventory. It's ⬆️ YoY - Absorption. If it slows, active inventory could build faster -Builders. How ⬆️ resale inventory impacts builders https://t.co/VQ60eWi0wU
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
Agent optimism up as new listings surge https://t.co/pP9jKayrMX #realestatenews #realestate
Bring on the supply! "New listings are up 13%, the biggest annual increase in nearly three years, and the total number of homes for sale is up 3%, the biggest increase in nine months." cc @texasrunnerDFW @m3_melody https://t.co/sfhOrZcFhY
A huge wave of housing inventory hit the market in February as the 'lock-in' effect eases https://t.co/kQyQ9sRk63
Mortgage Applications to Buy a house had a slight rebound this week.... To 11% below last year's level. And 45% below 2022. 📉 Homebuyer demand is still in the basement just as new listings are starting to spike. Cocktail that suggests sellers will need to get more aggressive… https://t.co/Plv712JK7k
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