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Our research team releases monthly housing trends reports. These regular reports break down inventory metrics like the number of active listings and the pace of the market. In addition, we continue to give readers more timely weekly updates, an effort that began in response to the rapid changes in the economy and housing. Generally, you can look forward to a Weekly Housing Trends View and the latest weekly housing data on Thursdays and from our economists. Here鈥檚 what the housing market looked like over the past week.

What this week’s data means

This year鈥檚 Easter holiday coincided with what is typically the best week to list a home. As a result, listing activity slowed compared to the same time last year. However, the uptick in the median listing price鈥攖he first notable increase after a stretch of declining or flat trends since last June鈥攕uggests that sellers this week had some stronger pricing power compared to the same period last year.听

While the uptick in listing prices may offer an early sign of a warming market, uncertainty remains around the Fed鈥檚 next move on interest rates, the direction of the 10-year Treasury yield, and, ultimately, where mortgage rates are headed鈥攆actors that will continue to shape the housing market.

听Key national findings

• New listings鈥攁 measure of sellers putting homes up for sale鈥攆ell this week due to the Easter holiday, by 1.6% from a year ago
  After 14 consecutive weeks of growth, the number of newly listed homes has dipped below last year鈥檚 level. However, this decline is largely attributed to the timing of the Easter holiday, which fell later this year than last. Looking ahead, we expect new listings to rebound in the coming week鈥攁 typical pattern that follows the end of a holiday. In fact, the recent momentum in listings made this March the most active March for new inventory in three years. As a result, buyers will continue to have more fresh options to choose from.

• Active inventory climbed 30.0% from a year ago
  The number of homes actively for sale remains significantly higher than last year, continuing a 76-week streak of annual gains. This year-over-year growth in inventory gives buyers more choices and encourages more competitive pricing among sellers. Generally, the number of homes up for sale is still below pre-pandemic norms, and the long-standing supply gap will continue to put pressure on prices in under-supplied areas.

• Homes spent 4 days longer on the market than last year
  Market pace has not sped up on an annual basis in nearly a year, giving buyers more time to make decisions. In fact, for three consecutive weeks, homes have been spending an average of four additional days on the market. This slowing pace signals a slightly more buyer-friendly environment compared to recent years, offering greater opportunities for negotiation and comparison shopping. However, homes are still spending slightly less time on the market than was typical before the pandemic鈥攈ighlighting the persistently tight conditions in today鈥檚 housing market.

• The median list price was up 0.6% year-over-year
  The national median list price rose by 0.6% year-over-year, marking the first notable price increase after a stretch of declining or flat trends since last June. While this uptick may signal a warming trend at the national level, local markets may tell a different story. In areas where home shoppers rely on stock market funds for down payments, ongoing uncertainty and volatility in the financial market could tighten buyer budgets, dampen demand, and potentially put downward pressure on prices. Price per square foot鈥攁 measure that helps account for changes in the size of homes on the market鈥攔ose 1.0% year-over-year. This suggests that demand remains relatively strong and that home prices are rising on a per-unit basis, not just due to larger or higher-end listings entering the market. Meanwhile, the share of homes with a price reduction remained flat, suggesting that at national levels, sellers are holding firm on pricing this week despite ongoing economic uncertainties..

National Data Summary

*Due to Easter Holiday