1102 ET - Activity in the housing market is warming up with the weather, but economic uncertainty is causing some buyers to hesitate. Zillow says spring home sales declined slightly from last year, while inventory reached levels not seen in nearly five years. Competition varies sharply by region. Economic anxieties disrupted the start of the home shopping season in April, Zillow says. Many households didn't know what was next for their jobs, investment portfolios or budgets. This kept some buyers on the sidelines, waiting for clearer economic signals before making major purchases like a home, Zillow says. As uncertainty has since eased, improved availability and affordability in homes could lead to a rebound in the coming months. Newly pending sales rose 3.4% from March to April. However, they're still 2.5% below where they were this time last year. (chris.wack@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 11:02 ET (15:02 GMT)
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