How’s the market looking?
The Market Action Index ticked up to 38, climbing from last month’s 36. As we transition into the spring market, this shift leans slightly in favor of sellers.
What is the Market Action Index?
Developed by Altos Research, the Market Action Index provides a quick snapshot of real estate conditions. It’s a simple yet powerful tool that helps determine whether the market favors buyers or sellers based on supply and demand.
Here’s the key:
- Above 30 → Demand is strong = Seller’s Market
- Below 30 → Demand is weaker = Buyer’s Market
Why does this matter?
The Market Action Index helps track market shifts and provides insight into pricing trends.
- When the index drops into Buyer’s Market territory, prices typically trend downward.
- When it stays in Seller’s Market territory, prices are more likely to trend upward.
The current Market Action Index of 38 confirms Sellers still have the upper hand.
How are home prices trending?
The median list price rebounded to $399,000, up from last month’s $395,000.
This number reflects seller confidence—it’s based on recent sales data and pending transactions, giving insight into what sellers expect to receive for their homes. Since it’s closely tied to final sale prices, it’s a useful indicator of how home values might shift in the coming months.
What’s happening with mortgage rates?
Mortgage rates dipped slightly compared to last month, now hovering in the mid-6% range.
Many experts point to the 10-year Treasury yield as a key factor in rate fluctuations. This yield serves as a benchmark for mortgage rates and is often seen as a gauge of economic confidence.
Stay informed & ask questions
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