According to data released by RedFin, new home listings nationwide are up 11.9%, year over year, representing the fastest rate of growth since 2013. Meanwhile overall housing inventory fell 3.7%, year over year, to around 500k homes….However that number is a 4% increase over January. The national median home sale price saw an increase of 4.8%., year over year.
“New listings rebounded in a big way after getting off to a weak start at the beginning of the year,” said Redfin chief economist Nela Richardson. “There were enough new listings in February to cut the inventory deficit in half. More listings also had a side benefit of curbing the strong acceleration in prices we saw the last two months. Whew, finally a little breathing room for buyers just in time for the start of the spring buying season.”
