Wooden house figure and price tag. Across the country, pending sales dove 26.6% on a seasonally-adjusted basis to the lowest level since Covid struck. (Credit: Andrii Yalanskyi/Adobe Stock)

Many home buyers and sellers are continuing to sit on the sidelines as home prices fall and interest rates rise. New listings fell 23.3% from March 2022 to March 2023 because homeowners made the decision to stay in their homes rather than move and face higher interest payments on a new house.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.