Home sellers are facing challenges finding buyers amid constant changes in the housing market.
The scarcity of home buyers purchasing a house resulted in a record $698 billion worth of homes for sale in the U.S. in April, the highest number for listings going back to 2012, according to a Redfin report.
Redfin also noted that there were almost 500,000 more home sellers than buyers in April.
Nearly half of home listings were on the market in April
By the numbers:
According to Redfin , 44% of home listings in April were on the market for about 60 days without going under contract, which is referred to as "stale inventory."
Redfin defines stale inventory as home listings that spend at least 60 days on the market and are actively listed for sale on the final day of the relev