Available Housing Inventory, Home Prices Continue to Rise: Realtor.com

Originally published March 2, 2023, by Sara Wiskerchen for Realtor.com.

 

The U.S. supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year over year in February, signaling the housing market's continued rebalancing, according to the Realtor.com® Monthly Housing Trends Report released today. Despite the significant increase in inventory over last year's record lows, home prices are still growing, albeit at a slower pace of 7.8% over last February, a sign of still-high hopes from home sellers entering the market.

 

What it means for homebuyers, sellers, and the housing market
In a market with conditions that don't particularly favor buyers or sellers, both will likely have to make compromises to make a deal happen. As mortgage rates continue to fluctuate and increase the cost of buying a home, it's important for sellers to price their home appropriately to attract buyers in the market. For buyers, it's critical they make the best offer they can on a home that fits their needs and budget. Realtor.com®'s mortgage calculator can help home shoppers estimate monthly payments quickly and easily as rates change from week to week.

Read More

 

Share this post: