Across the US, new listings ↑3% yearly in the 4 weeks ending April 19, the biggest gain since Late-Fall, while pending sales ↓1.2% yearly.
Lower mortgage rates helped activity: avg. 30-yr fixed fell to low-6%.
Even so, the current spring buying season started slowly. Sale prices ↑2% yearly, rates stayed above sub-6% levels seen briefly in Mid-Q1, and economic worries lingered.
Other demand signals improved. Searches for homes for sale ↑5% from a month earlier and ↑18% yearly, while touring activity ↑32% from the year's start.
Supply stayed tight despite more sellers. Active listings ↓2.6% yearly, months of supply held at 4.2, and homes took 46 days on market, up 4 days.
Sellers appeared motivated by moves before the next school year, while some buyers and sellers still hesitated over job security, mortgage costs, and broader economic uncertainty.
US Spring Listings Rise, Buyers Lag
