US Spring Listings Rise, Buyers Lag

Across the US, new listings ↑3% yearly in the 4 weeks ending April 19, the biggest gain since Late-Fall, while pending sales ↓1.2% yearly.
Lower mortgage rates helped activity: avg. 30-yr fixed fell to low-6%.
Even so, the current spring buying season started slowly. Sale prices ↑2% yearly, rates stayed above sub-6% levels seen briefly in Mid-Q1, and economic worries lingered.
Other demand signals improved. Searches for homes for sale ↑5% from a month earlier and ↑18% yearly, while touring activity ↑32% from the year's start.
Supply stayed tight despite more sellers. Active listings ↓2.6% yearly, months of supply held at 4.2, and homes took 46 days on market, up 4 days.
Sellers appeared motivated by moves before the next school year, while some buyers and sellers still hesitated over job security, mortgage costs, and broader economic uncertainty.