This year’s spring housing market has shown resilience, despite facing the usual challenges. In fact, according to a new analysis from the National Association of Realtors’ consumer website, the market is finding new balance. Danielle Hale, the website’s chief economist, says there are encouraging signs. “Higher rates and geopolitical uncertainty could have sidelined both buyers and sellers this spring,” Hale said. “Instead, we’ve seen six months of sellers adjusting their expectations and buyers rewarding them for it. List prices are down at a record pace, but price reductions are also down. That combination tells you sellers are doing their homework before listing, not after. The market is finding a new equilibrium.” Through April, new and active listings were both up over last year, while list prices were down 2.4 percent. That means more choices for buyers at prices that reflect actual market value, not home sellers’ hopes. (source)
