New listings of homes up for sale soared for the week ending March 23, according to realtor.com, offering more opportunities for buyers who could see the supply increases prices result in lower prices.Sellers putting their properties on the market jumped by nearly 15 percent for the week compared to a year ago, amounting to the fastest rate of increase in new listings since the summer of 2021, said realtor.com economist Jiayi Xu.Meanwhile, active inventory was also up, 25.
'Additionally, the increased listings might put some downward pressure on prices, offering relief to homebuyers.'But elevated mortgage rates may still prove prohibitive for buyers. While rates have come down from their 8 percent peak of the fall of 2023, they are still close to 7 percent. This is substantially higher than the 2 to 3 percent range some Americans were able to secure during the pandemic.'With mortgage rates fluctuating between the 6.