Characterizing it a sign of “seller confidence” and “an indication of a strong early beginning to the spring home buying season,” the National Association of Realtors has just revealed that the number of homes for sale across the country is currently 10 percent higher than at the same time last year, as we reported last month.
At the same time, having dropped 1 percent on a seasonally adjusted basis last week, the Mortgage Bankers Association’s measure of buyer’s purchase mortgage application volume is currently running 15 percent lower on a year-over-year basis.

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