More Inventory and Rising Sales

As highlighted by HousingWire, the past 18 months have been an incredibly arid period for the housing market.

Ever since mortgage rates began to increase in the year 2022, the ability for potential homebuyers to make monthly payments has drastically decreased, resulting in a significant decline in demand.

At the same time, there was a noticeable decrease in the number of homes available for sale, as sellers were affected by the unfavorable market conditions. This has created a perfect storm in the real estate industry.

The effects of this prolonged drought have been felt by both buyers and sellers, with many facing financial challenges and difficult decisions. But now sellers are coming back into the market.

In fact, new listing volume at the beginning of April increased by 18% compared to the same time last year. Additionally, total available inventory is steadily rising at a rate of 1% per week, a significant improvement from last year when it was still declining in April.

As we enter the second quarter, we anticipate even faster growth in our inventory each week.

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