New home sales dropped in April. Inventory is up.

New home sales dropped in April after two stronger months. Inventory kept building.

Sales fell to a slower pace than March. The supply of new homes on the market is now at a multi-month high.

For sellers, that's more competition. For buyers, it's more choice. But the data shows they're not rushing in yet.

Here's the angle your buyer clients need.

More inventory means less urgency. A bit more room to negotiate, especially on new construction.

But rates are still high. Today's average is 6.375%. That's keeping a lot of people on the sidelines.

Your seller clients should know days on market are ticking up. Pricing has to match the reality of a cooling spring.

The homes moving fastest right now are priced for the current rate environment. Not last year's.

If a client asks what this means for them, I can run the numbers in about five minutes. I'll show them what they can actually afford at today's rate. Or what a seller's list price pencils out to per month.

I'm Brett, (949) 350-8005.

Informational only, not a commitment to lend, rates subject to change. Equal Housing Opportunity. NMLS 2010859.