Sellers flooding back to the housing market
Sellers flock back to the housing market as the number of homes for sale reaches its highest point in two years
The number of homes for sale has reached its highest level in 27 months, according to new figures.
Many have put their relocation plans on hold after mortgage rates rose to a 14-year high and home prices began to fall late last year.
But new figures from Propertymark, which represents more than 18,000 affiliated brokers, show that the housing market is picking up again.
Estate agents typically reported having 35 homes for sale per branch in March. This was the highest number of homes for sale per location since January 2021.
Real estate news: New figures from Propertymark, which represents more than 18,000 affiliated brokers, show that the housing market is picking up again
A year ago there were only 20 homes for sale per branch.
The number of sales agreed is now broadly back in line with the average number agreed in 2019 before the pandemic, brokers say.
Propertymark says home viewings in March were also up 21 percent from February, while the average number of new buyers registering per property has risen by a third since the start of the year.
Nathan Emerson, chief executive of Propertymark, says: ‘We have seen positive activity in February and March and expect this to continue into April.
“Prices hold up with a little bargaining on the table, meaning both sellers and buyers feel they’re getting their money’s worth.”
l.purkess@dailymail.co.uk