- Months Supply of Inventory in Single Family Homes and Townhouse/Condos have both increased significantly. If looking for properties, you now have more inventory now compared to the past year to browse and less competition.
- We are also seeing Days on Market Until Sale increase in both of these categories giving buyers more time to consider properties.
- Overall, listings have decreased this month, but we expect this to pick up the closer we move to Spring.
U.S. Market Recap
Mortgage rates trended lower toward the beginning of last week. Home price appreciation climbed slightly in February. New home sales jumped in March. Mortgage application submissions increased. Continuing jobless claims decreased and initial jobless claims decreased. The Q1 GDP estimate for 2023 fell. Core inflation rose, personal income remained unchanged, and consumer spending rose.