"Homebuyers Rejoice as Monthly Payments Plunge, Reviving Housing Market Interest"

The U.S. housing market is showing signs of renewed buyer interest as the median monthly mortgage payment has dropped to $2,361, the lowest in nearly a year, due to a decrease in mortgage rates. Redfin's Demand Index indicates a 10% increase in early-stage homebuying demand, with the Homebuyer Demand Index reaching its highest point since August. Despite a year-over-year decline in pending sales, the market is seeing the smallest drop in two years, and new listings have increased by 10%. Mortgage rates have slightly risen since the end of December, but overall, the lower payments and increased inventory are bringing some buyers back into the market.