Overview

• 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.