Realtor.com® March Housing Report: Housing Market Takes a Step in a Buyer-Friendly Direction
News Corporation - Class A (NWSA)
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Source: PR Newswire
March data shows the largest share of price reductions since 2019 with 34 out of the 50 largest metros showing an uptick in drops SANTA CLARA, Calif., April 4, 2024 /PRNewswire/ -- According to the Realtor.com® March housing report, buyers are looking at an optimistic mix of increasing inventory and an uptick in price reductions going into the Spring season. In March, the percentage of homes with price reductions increased to 15.0% - the largest share in 5 years - and the total number of homes actively for sale grew by 23.5% compared to last March (but remains well below pre pandemic levels)."Sellers are starting to warm up to the current environment, wading into the market in increasing numbers despite market mortgage rates that are likely above their existing rate, if they have a mortgage. As a result, data shows surprisingly competitive pricing trends among sellers, especially in the lead up to this year's Best Time to Sell, which Realtor.com® reported will be between April 14th
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