The current spring selling season reveals a significant increase in homeowner listings, leading to higher inventory levels and stable asking prices. However, longer market times indicate that sellers should be careful not to overreach on pricing. Tariff uncertainties have caused a downturn in single-family building permits, while rent affordability has improved slightly nationwide. Despite an overall increase in affordable housing for mid- and upper-middle-income buyers, those earning less than $50,000 face growing affordability issues, highlighting the need for more low-priced homes.
The spring selling season is looking more like a washout than a blooming time.
Inventory was encouragingly up overall, but some income groups in some markets saw a decline in what's affordable to them.
The key lesson here is that we need to not only build more homes, but also concentrate on lower-priced homes.
Small-business optimism waned in April as job openings went unfilled and respondents reported concerns about what's ahead for the economy.
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