“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

February sales volume by dollar amount rose 15.1% month over month to $2.06 billion worth of transactions, Georgia MLS reported.

The most-recent Atlanta Housing Scorecard also shows improvements in the local unemployment rate and the number of days Atlanta homes spent on market.

Homeowner tenure has flattened since its 2020 peak.

Demand has been trending up since the beginning of the pandemic.

The pace of new home listings is gaining steam, a welcome development in the face of high demand from buyers, Redfin reported.

Buyers faced bidding wars as more rushed to purchase a home before mortgage rates jumped again.

“Given the situation in the market — mortgages, home costs and inventory — it would not be surprising to see a retreat in housing demand.” — NAR chief economist Lawrence Yun 

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

The decline was on a month-over-month basis, while year over year, prices were still up by double digits. 

Redfin reported 32.4% of its users in January were looking to relocate, the highest percentage since it started tracking the data in 2017.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.