With the spring market right around the corner, the U.S. housing supply finally got a boost. 

Location, location, location … at least that’s how the old real estate adage goes, right?

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

Home might really be where the heart is. According to a new Zillow survey, 42% of recent homebuyers reported finding love after buying their new home.

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

Redfin points to surge in prices, new luxury listings and a boost in sales as affluent homebuyers and sellers show increased activity.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

Notably, renovators are less likely than they were a year ago to undergo kitchen modifications for the purpose of improving the home’s resale value.

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

Home listings grew in December as housing prices stabilized, closing out an interesting 2023 for the real estate market.

Nearly all millennials — 93% — say a volatile market is to blame for wrecking homebuying plans, with another 76% saying they expect the market to get worse before they’re able to make a purchase themselves.

With mortgage rates dropping to their lowest levels in almost a year, house hunters are returning to a market that many had shied away from in 2023.

CoreLogic expects prices to continue to grow through the year.

Falling mortgage rates and more inventory could mean an improvement in housing affordability in the new year.