The Midwest posted a 5.0% monthly gain and a 3.3% annual drop, and the West recorded a 4.3% rise from December and a 0.3% gain from a year earlier.
Inventory and policy in the spotlight
Yun said the main constraint remained supply, warning that any influx of newly qualified buyers could reignite price pressures.
“Unless housing supply increases, these additional potential buyers becoming active in the market could simply push up home prices,” he said.
“This will put increasing pressure on affordability, which is why it is critical to increase supply by building more homes.”
He pointed to federal efforts to address the shortfall. “Fortunately, the House of Representatives recently passed the Housing for the 21st Century Act with strong bipartisan support, an important signal that addressing the nation’s housing shortage remained a shared priority,” Yun said.
