Despite a flood of new listings, buyers are cooling off from high prices, rising mortgage rates and economic uncertainty, according to new reports from Zillow and Redfin. Pending homes sales declined 3.4 percent year over year during the four weeks ending May 11, marking the lowest level for this time of the year since 2020.
Source: Inman News
The spring sizzle fizzles: Economic jitters chill buyer demand
Published in Buyer concessions, Chen Zhao, china, first-time buyer, first-time buyers, homebuying, homeselling, housing inventory, housing market, inman, Kara Ng, Markets & Economy, may housing inventory, May pending home sales, Meme Loggins, Mortgage Rate Buydowns, mortgage rates, new listings, new listings activity, News Brief, oregon, pending home sales, portals, portland, recession, Reciprocal Tariffs, Redfin, Redfin Premier, Redfin premier agent, san diego, Select, Tariffs and Zillow
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