Here’s what upgrading to a nicer home could cost you, and why it’s locking up the market

PUBLISHED TUE, APR 2 202411:30 AM EDTUPDATED TUE, APR 2 20242:43 PM EDT

By: Diana Olick

WATCH NOWVIDEO02:21Home prices rose 5.5% in February compared with same month a year earlier: CoreLogic

The spring housing market is defying expectations that prices would cool and competition would ease.

Higher mortgage rates usually cool both prices and demand, as they did last year, but that’s not the case now. There are still too few homes for sale because current homeowners can’t afford to move, and it’s keeping prices high. LEARN MORE…

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