The never-steady housing market is being impacted in key areas today due to bursts in supply and the home insurance crisis and affordability that comes with living in areas such as Florida and Texas, according to Redfin.
Homes for sale in Cape Coral, Fla., and North Port, Fla., surged roughly 50% from a year earlier in March—more than anywhere else in the country. And in McAllen, Texas, supply jumped 25%.
"Nationwide, new listings slowed in March as mortgage rates remained elevated," writes Lily Katz at Redfin. "The Fed recently warned rates are likely to stay high longer than expected."
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