Fewest Homes For Sale In May Since 2012: Redfin
Says May's 1.4M homes for sale was the lowest ever in its records.
Says May's 1.4M homes for sale was the lowest ever in its records.
Redfin says demand is high, but so are mortgage rates, which are keeping sellers on the sidelines.
For the four-week period ended April 23, new listings of homes for sale fell 22.4%.
Profit on single-family home or condo fell to 44.2% as home prices stayed flat or fell.
ESR Group maintains predictions of a "modest recession" beginning in the second half of 2023.
Redfin said the 25% decline for the four weeks ended April 9 was the biggest since the start of the pandemic.
Rising mortgage rates could freeze buyers out later this year.
Housing inventory levels increased year over year for the 10th consecutive month.
Just over 31% of home purchases in December were made in cash.