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The real estate and housing market saw a surge in new home listings last Thursday, marking it as the busiest day for such listings this year. Estate agents aimed to entice potential buyers who were considering their options over the long Easter weekend.
According to Rightmove, March 28th ranked as the third-busiest day for new listings since the summer of 2020. The only days surpassing it in terms of new listings were Boxing Day in both 2022 and 2023.
In the summer of 2023, mortgage rates reached their peak and have been on a steady decline since then, sparking optimism among agents and developers, who are hopeful about witnessing the usual seasonal upswing this year.
This positive outlook is in stark contrast to the subdued activity experienced in the real estate market a year ago, and major housebuilders have noted an increase in sales leading into this spring selling season. The sales surge indicates a potentially robust real estate market in the coming months.
After a slow start to 2023 and 2024, developers’ sales are starting to increase, and Rightmove’s data shows the average asking price of a new listing has risen by £55,500, or 18 per cent.
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