![]() ![]() Unsold inventory is at a 2.9-month supply at the current pace of sales, an improvement from March and a year ago but still hovering near record low levels.Įntry-level homes have been protected from the dips in the broader market and are still attracting multiple offers in many areas due to a lack of supply. Total inventory was up 7.2% from March to April at 1.04 million units and slightly improved from last year. "Even in markets with lower prices, primarily the expensive West region, multiple-offer situations have returned in the spring buying season following the calmer winter market.”Ī lack of homes coming onto the market has helped keep prices stable so far this year and April brought some improvements. "Roughly half of the country is experiencing price gains," Yun said. That trend has mirrored what is happening in the rental market recently, where prices have moderated after their own pandemic-era boom and have started to retreat in some of the hottest growth areas of the last few years. Prices increase in the Northeast and Midwest, and fell in the South and West. ![]()
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