National Association of Realtors reports pending home sales down 4.6% "all-time low"

[Ken M.]

Well, are you preparing for more inventory ?

The average rate on a 30-year mortgage slipped slightly to 6.76% from 6.85% last week, according to mortgage buyer Freddie Mac.

• The number of homes actively for sale grew 27.5% compared to last year, the 16th straight month of growth.
  
• Newly-listed homes increased 4.2% year-over-year.
  
• The median price of homes for sale in February fell 0.8% to $412,000.

Realtor.com also reports a growing number of listings with price reductions, with 16.8% of sellers cutting prices in the month of February.