The spring sizzle fizzles: Economic jitters chill buyer demand

by Richelle Hammiel

Despite a flood of new listings, buyers are cooling off from high prices, rising mortgage rates and economic uncertainty, according to new reports from Zillow and Redfin. Pending homes sales declined 3.4 percent year over year during the four weeks ending May 11, marking the lowest level for this time of the year since 2020.

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