Weekly Real Estate Monitor: April 11-14

Market Report provided by NAR

With mortgage rates rising sharply, the imbalance between housing demand and supply is narrowing. As of April 10, active listings were down 14.2% from one year ago (down nearly 25% at the beginning of the year) while the pending listings were down 11.7% (down just 4% at the beginning of the year). There were 10.3 pending listings for every 10 active listings, down from the prior period but still higher than one year ago (10.4 in the prior week; 9.9 one year ago).