Housing Market Update: Are Sellers Returning to the Market?

Sellers are seemingly coming out of the sidelines and getting ready to list their properties on the market, real estate platform Redfin said on Friday, even as buyers remain wary of elevated mortgage rates and high prices.New listings jumped to their highest level since September increasing by almost 4 percent last month. For the year, they were up by close to 15 percent.

This froze the existing housing market, which essentially collapsed in 2023, and stifled supply.However, sellers are now ready to take the plunge, according to Redfin. The question now is whether buyers will be ready to jump in as well. Mortgage rates are still near the 7 percent level as the economy suggests rates may stay higher for longer.

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