Posted 3/14/2024, 12:11:18 PM
Housing Market Sees Biggest Jump in New Listings in 3 Years, But High Prices and Rates Limit Buyer Growth
- New listings rose 13% from a year earlier, the biggest increase in nearly 3 years
- Median monthly housing payment was $2,686, just $30 shy of October's all-time high
- Mortgage rates still elevated near 7%, pricing some buyers out, but more shopping as supply rises
- Home prices up 5% nationwide; increased in all 50 biggest metro areas for first time since July
- Buyer demand indicators mixed - applications up but pending sales down 6% as costs stay high