Sales picked up a little compared to March, which is normal for this time of year. But when year of year, home sales were actually down 23.3% compared to last April. At the same time, more homes went up for sale about 8.1% more listings than last year. So, if you’re house hunting, you’ve got more options right now.
The average selling price was around $1.11M, down 4.1% from last year. But month-over month prices increased albeit modestly for the third month in a row. The market is giving buyers a bit more power these days prices are lower, and there are more homes to choose from. Some buyers are still holding off though, waiting for interest rates to go down and the economy to feel more stable.
If things improve like interest rates dropping or the economy getting more predictable we could see more people jumping back into the market.
Buyers have more room to negotiate, and sellers need to price smart to stay competitive.
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