Key takeaways: 

• Approximately 12% of homes for sale had a price reduction during the four weeks ending April 3. That’s up from 9% a year back, according to Redfin.
• According to Realtor.com, the number of new listings the previous week bounced 8% from a year ago. This follows four consecutive weeks of yearly declines in recent listings.
• According to Mortgage News Daily, customers are sweating because the average rate on the 30-year fixed mortgage took off in the previous few weeks, exceeding 5%.

Some new news from real estate firms suggests customers may be beginning to get a break in this red-hot housing market. More listings are arriving for sale, and some sellers are lowering their asking prices. 

The numeral of new listings last week leaped 8% from a year ago, according to Realtor.com. This pursues four consecutive weeks of annual drops in recent listings. The entire portion of the active list for sale is yet down 13% from a year back, but it may be on the path, given the climb in new listings, to exceed year-ago levels by this summer. New listings tend to peak in May.

Prices, nevertheless, are still well beyond year-ago levels.

Higher mortgage rates are also creating fewer cheap houses. According to Realtor.com, the average borrower is now spending nearly 38% almost they would have for the same home a year back on a monthly payment, according to Realtor.com.

General inflation and related mortgage rate climb mean less budget flexibility for some customers to follow freshly listed homes. For those who can afford to persist, a silver lining could be somewhat less competition for more for sale home options, leading to some relief from relentless home price momentum.