US Spring Home Sales Season

SOURCE finance.yahoo.com
The US spring home-sales season is off to a slow start with low number of signed contracts and high inventory of homes on the market. Economic turmoil, high mortgage rates, and trade wars are impacting buyer and seller activity.

Key Points

  • Lowest number of signed contracts for April since 2020
  • Active listings at highest level since 2019
  • Annual median price growth at only 1.4%

Pros

  • Some regions like Northeast and Midwest are experiencing bidding wars due to tight inventories
  • Homebuilders are offering discounts and subsidies to attract buyers

Cons

  • Low number of signed contracts compared to previous years
  • High inventory of homes on the market
  • Economic turmoil, high mortgage rates, and trade wars affecting buyer and seller activity