Lots of New Istings - Lots of Price Dedutions - Prices Still Up??

[Account Closed]

US For-Sale Homes Rise For First Time Since 2019 on Realtor

How is it possible to have a lot more houses on the market, rising interest rates and STILL the prices go up??

(Bloomberg) -- Home listings increased for the first time since June 2019, according to Realtor.com data, suggesting the US housing supply hit a turning point last month.

The number of active listings rose 8% year-over-year in May, probably driven by new sellers and a slowdown in would-be buyers deterred by high prices, Realtor.com said in a report Thursday. The largest increases in new listings were in the West and the South, in cities including Austin, Texas, and Phoenix, Arizona.