【Zillow】Entry-Level Shoppers Face a More Competitive Market Heading Into Spring

• Entry-level shoppers heading into spring can expect a tighter market. Prices for entry-level homes are up 8% year-over-year nationally, with Tampa, Richmond, and Charlotte having over 60% appreciation from pre-pandemic.
• Top tier priced homes fell annually in value for the first time since 2012
• High mortgage rates are choking the influx of supply equally across price tiers – new listings are down comparably for bottom, middle, and top tier, but middle and top tier shoppers are seeing more price cuts and fewer homes selling above list price compared to pandemic years

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