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- Fewer people are sitting on their mortgages as they adjust to higher rates, according to Redfin.
- New listings jumped close to 15% in February, the biggest year-over-year increase since 2021.
- Still, this isn't translating to lower prices, which climbed 6.6% on an annual basis.
US home-sellers are finally getting accustomed to higher mortgage rates. That's driving momentum in housing-supply growth and helping alleviate an inventory shortage, Redfin wrote in a new report.
New listings surged 14.8% on an annual basis in February, marking the highest year-over-year gain since May 2021. Month-to-month listings rose 3.8%, hitting the highest levels since September 2022.