1340 ET - According to the Realtor.com's March housing data, the U.S. housing market continued to loosen up in March, giving buyers more options as inventory grew for the 17th month in a row. Sellers are gradually returning to the market, with new listings hitting their highest March level in three years--even as mortgage rates remain elevated. Still, home shoppers are treading carefully: fewer homes went under contract compared to last year in the nation's largest metro areas, and homes are spending more time on the market than they did a year ago. Homes under contract fell 5.2% in major metro areas, as still-high mortgage rates and financial uncertainty weighed on buyers. The inventory of homes for sale rose 28.5% year-over-year, marking the 17th consecutive month of inventory growth. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 13:40 ET (17:40 GMT)
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