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SPRING BRINGS MORE LISTINGS AND OPPORTUNITIES FOR BUYERS Spring has arrived, and with it comes a fresh wave of homes hitting the market, offering buyers more choices than they've seen in years. According to Zillow's latest report, over 375,000 homes were listed in March, marking a 32% increase from February and a 9% rise compared to last year. This surge has pushed total housing inventory to 1.15 million homes, the highest level since March 2020. MORE OPTIONS, MORE LEVERAGE While sellers are actively listing properties, buyers are taking their time. Pending sales held steady at 265,000 in March, creating a gap that added 110,000 homes to the market. This growing inventory is giving buyers more negotiating power. Nearly 24% of listings on Zillow saw price cuts in March, the highest percentage since 2018. AFFORDABILITY STILL A CHALLENGE Affordability remains a concern. Despite this, the increase in listings and price adjustments are creating opportunities for buyers to find homes within their budgets. |
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