Home Sales Have Rebounded Where Buyers Have Choices

The spring housing market is heating up fastest in areas where buyers have more choices, with some metros showing over 50% more inventory than pre-pandemic levels. Increased construction, especially in the Sun Belt, has boosted sales growth where incomes align better with prices. Nationally, typical monthly mortgage payments are 3.4% lower than last year, and sales are up 2.3%. Higher inventory is easing price pressures and improving affordability in key markets.