New listings continued to fall in March, according to Realtor.com, down 20% from the same month last year.
A for sale sign is posted in front of a home for sale on February 20, 2023 in San Francisco, California.It might seem like a great time to list your home for sale. Buyers are flooding back into the market, mortgage rates have fallen off their recent highs, and there are still far to few homes for sale to meet demand. But potential sellers aren't budging.
Homes are now sitting on the market an average of 54 days, up from an average of 36 days at the start of last spring. Time on market was longer in all of the top 50 metropolitan markets, but the greatest increases were in Raleigh, North Carolina , Kansas City, Missouri , and Austin, Texas .
The Real Estate Market seems to be in a stale mate. No smart person is selling their sub 3% mortgage today. The FED's in control and there’s no demand to participate at these rates/prices. The BUILD BACK BETTER question is - Why should anyone BUY a used house these days?
'More home sellers are sitting out of the spring housing market' - Let me fix the title. 'More home buyer are sitting out of the housing market for potentially YEARS.' - NOBODY BELIEVES YOU. 2026 will be the bottom. Until then, monthly price declines will continue.