Prnewswireยท2025-04-03 10:00Core Insights - The U.S. housing market is showing signs of recovery with increased inventory and more homes for sale, but buyer caution persists due to economic uncertainties [1][2][8] Market Trends - The spring housing season is characterized by more sellers and a growing number of homes available, indicating a rebalancing market [2] - The median listing price remained stable at $424,900, with a year-over-year change of 0.0% and a significant increase of 38.9% since March 2019 [3] - Active listings increased by 28.5% year-over-year, while new listings rose by 10.2%, marking the strongest March performance in three years [3][9] Buyer Behavior - Pending home sales declined by 5.2% year-over-year in major metro areas, with 36 out of 44 metros experiencing decreases, particularly in Jacksonville and Miami [4] - Some markets, such as San Jose and Grand Rapids, saw increases in pending listings, suggesting local dynamics are influencing buyer sentiment [5] Pricing Dynamics - A record 17.4% of active listings had price reductions in March, the highest share for any March since 2016, indicating sellers are adjusting to budget-conscious buyers [6][7] - Markets with the highest price reductions included Phoenix (32.6%) and Tampa (28.9%), while tighter markets like Buffalo (5.4%) maintained firmer pricing power [7] Inventory Analysis - Total inventory remains 20.2% below typical levels from 2017 to 2019, with significant gains in inventory seen in San Jose (+67.9%) and Las Vegas (+67.8%) [9] - Despite improvements, the Northeast continues to lag with inventory nearly one-third below pre-pandemic levels, highlighting ongoing supply challenges [9]