The housing market in metro Detroit entered spring with a decline in sales and a rise in prices year over year, according to data from RE/MAX of Southeastern Michigan. Mortgage rates dropped to around 6.05% in February, helping some buyers re-enter the market. The median home price rose 1.4% to $297,500, indicating demand remains steady despite affordability challenges. Despite fewer sales and rising prices, the market remains constrained by limited housing supply. There were 7,986 homes for sale in February in Livingston, Macomb, Oakland and Wayne counties, compared to 6,866 in the same month last year. New listings are also increasing, giving buyers more choices. National housing trends also showed a trend of rising existing-home sales, while housing affordability improved for the eighth consecutive month.