A pandemic-induced spike in housing demand and a dearth of supply suggests that the spring housing market could be one of the most competitive ever.
A significant fall in new listings due in part to severe weather, in conjunction with already anemic supply, will make it extremely challenging for buyers to find their dream home at the perfect price.
There were nearly fifty percent as many homes for sale at the end of February as compared with the prior February, according to a new calculation by realtor.com, a trend that was accelerated by a decline in the number of new listings to come to market.
“Last month’s record cold and snowstorms likely caused sellers to hit pause, even if only temporarily,” said Danielle Hale, chief economist at realtor.com. “However, in today’s inventory-starved market, any setback is significant.”
To gain ground, new listings would have to burgeon…
