The spring housing market is experiencing the strongest inventory gains in five years as declining mortgage rates encourage existing homeowners to list their properties. Active listings have risen 28% year-over-year nationally, easing the severe supply constraints that have defined the market since the pandemic.
Real estate agents report that buyers are benefiting from increased selection and reduced competition, with bidding wars declining to pre-pandemic levels in many markets. Median days on market have risen to 32 from a low of 18 last spring.
