Here’s where the housing market is starting from for this spring season:

  • Inventory of homes for sale dropped in February by nearly 49% year-to-year.
  • February’s median listing price increased to $353,000, up about 14% year-to-year.
  • Mortgage applications for new home purchases increased 19% in January 2021 compared to a year earlier.
  • 71% of homes sold in January were on the market for less than a month.

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