Tag Archives: Inventory

“First-time homebuyers are active and those entering the market have an edge as sellers are negotiating more and giving buyers a chance,” said RE/MAX President and CEO Nick Bailey.

"Generally speaking, home prices are lower in expensive markets and higher in affordable markets, implying greater mortgage rate sensitivity for high-priced homes," said NAR Chief Economist Lawrence Yun.

According to HouseCanary's latest National Rental Report, demand for rentals is outpacing the increase in inventory, resulting in an increase in median listing prices and days on the market.

Freddie Mac reports that mortgage rates slid this week after two consecutive weeks of gains, amid both the failure of yet another bank and another rate hike from the Federal Reserve.

The “lock-in” effect is in full swing as the lack of sellers is impacting not just inventory but affordability as well.

“Rental cost growth relaxed again in February but is still increasing nationwide year-over-year,” said Molly Boesel, Principal Economist at CoreLogic. “Less-expensive metros have emerged as those with the highest appreciating rental costs, as tenants contend with elevated rents and inflation."

While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.

A reluctance to sell means that increase has not yet translated to home sales, experts from Redfin report.

According to a new report from Redfin, home prices declined in February as home sellers responded to a decline in homebuyer demand spurred by elevated mortgage rates.

Rental returns experienced a significant increase from 2022 in roughly 90% of counties analyzed in ATTOM's latest Q1 2023 Single-Family Rental Market report, reversing years of decline and narrowing down the best counties for single-family rentals in 2023.