Spring Homebuyers Face Limited Inventory Challenges

The lack of inventory in the housing market, driven by seller hesitancy to sell into a market where home prices have been falling, is making it tougher for potential buyers to become homeowners. The market is still far slower than this time last year when rates were much lower and were just starting their rapid ascent. Although homes are now selling faster and closer to asking price than a few months ago, that’s not uncommon because people don’t like to move around the holidays. According to experts, the hunt for slightly better deals relative to the last several months is a major reason why.