In April 2024, the real estate market saw a surge in sellers, leading to a significant increase in new listings. This shift in dynamics also resulted in higher home prices, increased sales volume, more overbidding, and faster sales.

Economic factors such as inflation and interest rates also influenced market dynamics. March’s inflation rate surpassed expectations at 3.5%, pushing mortgage interest rates back above 7%, although still below rates from the previous fall. Speculation regarding the Federal Reserve’s actions on benchmark rates fluctuated throughout the month, impacting buyer and seller sentiments. Despite these changes, both parties remained resilient, moving forward with their real estate plans amid evolving economic conditions.

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