Fewer homeowners are opting to sell in a market characterized by soaring interest rates. That dearth of new inventory is intensifying competition among spring buyers
After consecutive declines, the interest rate for a 30-year mortgage reversed course in April, forcing would-be buyers to exercise patience in a costly market
Builders were forced to offer generous concessions to sell new homes during a housing slowdown, but as buyer demand inches higher, those discounts are no longer necessary