Across 50 metro areas, closed sales ↑~32% MoM in Late-Q1, the strongest monthly gain in 3 yr. Yearly sales also edged ↑~3%.
New listings helped fuel activity, climbing ↑29% MoM. But yearly, newly listed homes still trailed by ~4%, while active inventory rose modestly.
Median sales price reached $440K in Late-Q1, ↑$10K MoM and ↑$5K yearly, showing modest price growth alongside the seasonal sales pickup.
Buyers paid 99% of asking price, up from 98% MoM. Homes averaged 49 days on market, 7 fewer MoM but 5 longer yearly.
An executive said buyers and sellers were re-engaging, while moderate price growth and inventory shifts suggested a market moving toward balance, not pure momentum.
