Sellers Re-enter Housing Market Amid High Mortgage Rates

As the spring buying season commences, sellers are listing more properties and reducing asking prices to attract buyers, despite ongoing high mortgage rates.

New listings in the housing market have surged, marking the highest level of activity since September 2022.
Sellers are adjusting to high mortgage rates by reducing asking prices, with some areas seeing the first annual increase in price reductions since May.
Despite a rise in listings, the housing market remains unaffordable for many, with home prices and mortgage rates still elevated.
The White House has proposed a 10-point plan to address the supply-demand imbalance, including mortgage-relief credit for first-time homebuyers.
Economists anticipate mortgage rates may decline this year, potentially easing the pressure on both buyers and sellers.