U.S. Housing Market Sees 500K More Sellers Than Buyers
Market Imbalance Deepens Amid Inventory Surge Even as the U.S. housing market navigates a complex economic environment, recent data highlights a volatile situation. Rising median home prices and significant shifts in inventory levels define this landscape. This atmosphere reveals an intricate balance—or lack thereof—between seller and buyer dynamics. Consequently, the market is fraught with uncertainty. The decline in starter home inventory exacerbates the situation, as first-time buyers face increased challenges in entering the housing market. The current vista shows a housing inventory swell by 30.6% year-over-year, spotlighting a notable imbalance. Amid this surge, buyer preferences continue to pivot, heavily influenced by the high median home price of $414,000. Despite a modest 1.4% increase in average home values over the past year, affordability remains a challenge. Elevated mortgage rates intensify difficulties for prospective buyers. In this context, new home sales remain robu...