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Active housing listings increased 7.9% year-over-year in February, marking the 28th consecutive month of gains. But inventory remains 16.8% below pre-pandemic levels despite the improvement.
The average 30-year fixed mortgage rate rose to 6.11% as inflation fears pushed bond yields higher. Here are practical strategies for buyers navigating the current market.
National home price growth decelerated to 0.7% year-over-year, the slowest pace since 2012. Some metros offer buyers real opportunities while others remain overvalued.
First-time homebuyers comprised 34% of existing home sales in February, up from 31% in January. Housing affordability improved for the eighth consecutive month as wages outpace home price growth.
New construction now represents 33% of homes for sale as builders use rate buydowns, price cuts, and free upgrades to attract buyers locked out of the existing home market.