Home Listings and Inventories Climb as More Homeowners Look to Sell
• New listings of existing homes jumped 20.8% in February 2023 compared to February 2022, showing signs of easing "lock-in effect"
• Homeowner surveys suggest more homeowners expect to sell in next 3 years, ending wait for lower rates
• Total housing inventory climbed 3.4% from January, 12% more active listings than a year ago
• Inventories grew most in Dallas (38.8%), Tampa (30.7%), and Orlando (29.5%)
• Even if rates decline this year, limited homebuying activity expected due to ongoing "mortgage rate lock-in"