Housing Market Sees Uptick in New Listings and Buyer Activity, Though Prices Remain High
• New listings rose 13% annually in February, the first increase in 8 months, boosting total homes for sale 1.7%
• Asking prices saw smallest increase in 2 months; 5.5% of sellers dropped prices, highest for February since 2015
• Touring activity up 23% this year over last; mortgage applications up 11% week-over-week
• Median sale price up 5.3% annually; prices should start declining as new listing price growth slows
• Supply improving but still tight at 3.7 months; 8 metros saw pending sales increases, up in just 1 metro