Real estate brokerage Redfin has reported a change in the housing market, with a national seller's market, which indicates there are more buyers than houses for sale. This shift often leads to lower home prices, as rising mortgage rates have negatively impacted affordability. Redfin data revealed that 52.2% of homes for sale sat on the market for at least 60 days in February, making them “stale listings” the highest percentage of stale listings since 2019. The report also revealed that there were 630,000 more sellers than buyers nationwide in February. Despite this, Redfin's data shows that median sale price had also risen 1% year over year. The number of homes sold has been improving every week, but the final week of March's numbers are not yet accurate.