Report: Homes for sale hits 5-year high

The U.S. housing market saw active listings reach their highest level since March 2020, with a 16.7% year-over-year increase. Despite this, existing home sales fell to a seasonally adjusted annual rate of 4.2 million in April, the lowest since October 2024. Economic uncertainty and elevated mortgage rates, averaging 6.73%, are contributing to buyer hesitation.