New Home Listings Plunge 21% With Higher Rates Spooking Sellers

Bloomberg, May 4, 2023–Paulina Cachero
While potential buyers have been sidelined by daunting borrowing costs, sellers are also sitting out the spring season. The number of new listings in April was down 21% compared to last year and plunged 31% compared to 2019, according to Realtor.com.
https://www.bloomberg.com/news/articles/2023-05-04/new-home-listings-plunge-21-with-higher-mortgage-rates-hitting-sellers?srnd=premium&leadSource=uverify%20wall