More Homes for Sale, but Low-Priced Listings Remain Scarce

The increase in national home sales has been largely associated with higher home prices starting at $250,000 or higher with lower priced homes essentially scarce in terms of housing inventory.

According to The Washington Post, “The entry level side of the market continues to be challenging, and it’s particularly hard because those entry level buyers are often most likely to be taking on a mortgage and borrowing, so they’re also the ones that are facing higher mortgage rates,” Hale said.

Hale expects the for-sale home inventory will be up about 15% on average this year, which should help some would-be buyers. But it would take a significant housing market slowdown before the number of homes for sale at the most affordable range of the market increases, she said.

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