(AURN News) — The housing market continues to barely chug along as new numbers show that the spring season is not shaping up well so far.
A new research report from Zillow for the month of April shows that the number of new listings is up 2.1% compared to last year.
Home sales are down 0.4% compared to last year and inventory is up 3.7% compared to last year.
“The monthly mortgage payment on a typical U.S. home fell 3.4% year over year to $1,829 in April, even as home values edged up 0.7% to $366,712,” Zillow said.
In April, there were 1.3 million homes for sale, with inventory up 5.8% compared to March. It took 17 days for a home to go pending.
Rent is also rising, with the average now sitting at $1,950 per month.
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