Housing market may have finally ‘turned a corner’
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The US housing market may be recovering, with Zillow reporting a 32% increase in web traffic for home listings and a 4.6% year-over-year increase in pending listings. Despite economic uncertainty, the market appears to be more balanced, with year-over-year affordability gains in 99 of the 100 largest US markets.
The US housing market is showing signs of recovery. Zillow reports a 32% increase in web traffic for home listings and a 4.6% year-over-year increase in pending listings. Home sales also increased by 3.7% year-over-year. The market appears to be more balanced, with year-over-year affordability gains in 99 of the 100 largest US markets. However, inventory growth has slowed, and existing home activity may remain sluggish. The monthly mortgage payment for a typical US home is $1,789, down 4.4% compared to last year.
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