The median home sale price rose 6% year-over-year to $434,000 in April, driven by a lack of new home listings. The total number of homes for sale reached a four-year high, partly due to some homes sitting on the market after being priced too high. About 18% of homes had a price cut, up from 12% last year. Some Hot markets saw roughly three-quarters of homes sell for more than their asking price. Despite higher mortgage rates, buyers can still find some room to negotiate in certain areas. New listings increased, but remained below pre-pandemic levels, as many homeowners feel "locked in" by low mortgage rates.

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LIVE STREAMS ARE OPINIONS EXPRESSED BY LICENSED REAL ESTATE AGENTS IN DIFFERENT REAL ESTATE MARKETS. DO NOT BASE YOUR HOME PURCHASE OR SALE ON THE OPINIONS EXPRESSED IN THIS STREAM. ALWAYS CONSULT YOUR LOCAL REALTOR FOR YOUR MARKET CONDITIONS.