U.S. Used Home Inventory Rises for Third Consecutive Month in April, Index Hits 74.8

According to Jin10, U.S. existing home inventory rose for the third consecutive month in April, with the signed contracts index climbing 1.4% to 74.8, the highest level in five months. The data suggests strong demand as the spring selling season begins.

Lawrence Yun, chief economist at the National Association of Realtors (NAR), stated in a comment: "Despite increasingly uncertain economic conditions and slightly higher mortgage rates, buyers are entering the market with cautious optimism." However, low-income homebuyers continue to face challenges from elevated mortgage rates and persistently high listing prices.