<p>2025 年 8 月 12 日，美国华盛顿特区国会山社区一栋房屋外的 “待售” 标志。</p>
<p>Al Drago | Bloomberg | Getty Images</p>
<p>至关重要的春季房地产市场已经启动，尽管预计增长速度不会很强，但至少在卖家中有乐观的迹象。一些去年放弃的卖家正在重新入市。</p>
<p>根据房地产经纪公司 Redfin 的数据，去年被下架的近 45,000 套房屋在 1 月份重新上市。这是 Redfin 十年前开始跟踪这一指标以来的最高 1 月数据，代表了 1 月份市场上房屋的创纪录 3.6%。</p>
<p>1 月份的数据与 Redfin 报告的去年 9 月卖家撤回房屋的创纪录数量相吻合。接近 85,000 名卖家下架，较 2024 年 9 月增长 28%。去年的高抵押贷款利率、仍然高企的房价以及经济的不确定性使得买家在去年秋季处于观望状态，卖家也失去了主导地位，而在疫情期间及其后，他们曾处于主导地位。</p>
<p>北卡罗来纳州罗利的房地产经纪人 Ashley Rummage 在回应 CNBC 第四季度住房市场调查时表示，12 月份更多的卖家被要求让步，而有些人则拒绝了。</p>
<p>Rummage 表示：“我遇到并合作过的许多卖家都举起双手说，‘如果我们现在不能为我们的房子得到我们想要的价格，或者我们认为它的价值，那么我们就会把它从市场上撤下，可能在春季再试一次。’”</p>
<p>根据 Realtor.com 的数据，全国待售房屋的整体库存比一年前更高，但增幅正在趋于平稳。活跃房源在 2 月份同比增长了 7.9%，但这一数字已经连续九个月在缩减。与 2019 年疫情前相比，房源仍然下降了 17%。</p>
<p>Realtor.com 首席经济学家 Danielle Hale 表示：“库存在过去两年中有所改善，但最近几个月势头减弱。供应的增长主要集中在南部和西部，并偏向于价格低于 50 万美元的房屋。尽管东北和中西部地区也有所增长，但供应仍然显著不足。”</p>
<p>Hale 表示，随着利率现在徘徊在四年来的低点，一个关键问题是这种 “解冻” 是否会刺激更多买家或更多卖家。由于与伊朗的持续战争和对通货膨胀的重新担忧，抵押贷款利率最近略有上升。</p>

住房建设 3 倍做多 ETF - Direxion

抵押贷款支持证券 ETF - iShares

住宅房地产股 ETF - iShares

<p>根据 Redfin 的数据，房屋卖家以十年来最快的速度重新挂牌，1 月份近 45,000 套房屋被重新挂牌。这一激增归因于抵押贷款利率的下降，尽管整体供应仍然较低。尽管活跃挂牌数量同比增长了 7.9%，但仍比疫情前水平下降了 17%。市场显示出乐观的迹象，但库存增长已趋于平稳，特别是在东北和中西部地区。波动的抵押贷款利率和经济不确定性继续影响卖家的行为</p>

<p>A &#34;For Sale&#34; sign outside a house in the Capitol Hill neighborhood of Washington, DC, US, on Tuesday, Aug. 12, 2025.</p>
<div class="lb-trans"><p>2025 年 8 月 12 日，美国华盛顿特区国会山社区一栋房屋外的 “待售” 标志。</p>
</div><p>Al Drago | Bloomberg | Getty Images</p>
<div class="lb-trans"><p>Al Drago | Bloomberg | Getty Images</p>
</div><p>The all-important spring housing market is off and running, and while the pace isn't expected to be strong, there are signs of optimism, at least among sellers. Some who gave up last year are jumping back in.</p>
<div class="lb-trans"><p>至关重要的春季房地产市场已经启动，尽管预计增长速度不会很强，但至少在卖家中有乐观的迹象。一些去年放弃的卖家正在重新入市。</p>
</div><p>Nearly 45,000 homes that were delisted last year were relisted for sale in January, according to Redfin, a real estate brokerage. That is the highest January figure since Redfin began tracking this metric a decade ago and represents a record 3.6% of homes that were on the market in January.</p>
<div class="lb-trans"><p>根据房地产经纪公司 Redfin 的数据，去年被下架的近 45,000 套房屋在 1 月份重新上市。这是 Redfin 十年前开始跟踪这一指标以来的最高 1 月数据，代表了 1 月份市场上房屋的创纪录 3.6%。</p>
</div><p>The January figures come as Redfin reported a record number of sellers pulling their homes off the market last September. Close to 85,000 sellers delisted, up 28% from September 2024. Higher mortgage rates last year, still-high home prices and growing uncertainty in the economy sidelined buyers last fall, taking sellers out of the driver's seat, where they had been in the years during and just after the pandemic.</p>
<div class="lb-trans"><p>1 月份的数据与 Redfin 报告的去年 9 月卖家撤回房屋的创纪录数量相吻合。接近 85,000 名卖家下架，较 2024 年 9 月增长 28%。去年的高抵押贷款利率、仍然高企的房价以及经济的不确定性使得买家在去年秋季处于观望状态，卖家也失去了主导地位，而在疫情期间及其后，他们曾处于主导地位。</p>
</div><p>Ashley Rummage, a real estate agent in Raleigh, North Carolina, in response to CNBC's fourth-quarter Housing Market Survey, said in December that more sellers were being asked for concessions, and some just refused.</p>
<div class="lb-trans"><p>北卡罗来纳州罗利的房地产经纪人 Ashley Rummage 在回应 CNBC 第四季度住房市场调查时表示，12 月份更多的卖家被要求让步，而有些人则拒绝了。</p>
</div><p>&#34;A lot of sellers I've encountered and worked with have just thrown their hands up in the air and said, 'If we can't get what we want for our house right now, or what we think is it's worth, then we're gonna go ahead and take it off to market and try again, maybe in the spring,'&#34; Rummage said.</p>
<div class="lb-trans"><p>Rummage 表示：“我遇到并合作过的许多卖家都举起双手说，‘如果我们现在不能为我们的房子得到我们想要的价格，或者我们认为它的价值，那么我们就会把它从市场上撤下，可能在春季再试一次。’”</p>
</div><p>The overall inventory of homes for sale nationally is higher than it was a year ago, but the gains are plateauing, according to Realtor.com. Active listings were up 7.9% in February, year-over-year, but that number has been shrinking for nine straight months. Listings are still down 17% from 2019, pre-pandemic.</p>
<div class="lb-trans"><p>根据 Realtor.com 的数据，全国待售房屋的整体库存比一年前更高，但增幅正在趋于平稳。活跃房源在 2 月份同比增长了 7.9%，但这一数字已经连续九个月在缩减。与 2019 年疫情前相比，房源仍然下降了 17%。</p>
</div><p>&#34;Inventory has improved for more than two years, but the momentum has faltered in recent months,&#34; said Danielle Hale, chief economist, Realtor.com. &#34;Supply gains have been concentrated in the South and West and skewed toward homes priced below $500,000. While the Northeast and Midwest have seen growth, they remain significantly undersupplied.&#34;</p>
<div class="lb-trans"><p>Realtor.com 首席经济学家 Danielle Hale 表示：“库存在过去两年中有所改善，但最近几个月势头减弱。供应的增长主要集中在南部和西部，并偏向于价格低于 50 万美元的房屋。尽管东北和中西部地区也有所增长，但供应仍然显著不足。”</p>
</div><p>With rates now hovering near four-year lows, Hale said, a key question is whether this &#34;thaw&#34; spurs more buyers or more sellers. Mortgage rates have climbed slightly higher in recent days, due to the ongoing war with Iran and renewed fears over inflation.</p>
<div class="lb-trans"><p>Hale 表示，随着利率现在徘徊在四年来的低点，一个关键问题是这种 “解冻” 是否会刺激更多买家或更多卖家。由于与伊朗的持续战争和对通货膨胀的重新担忧，抵押贷款利率最近略有上升。</p>
</div>

Home sellers are relisting properties at fastest pace in a decade, but spring supply is still low

CNBC

组合抵押贷款支持债券 ETF - SPDR

美国房产主题 ETF - SPDR

房地产投资信托股 ETF - iShares

JPMorgan Mortgage-Backed Securities ETF

抵押贷款证券 ETF - Janus Henderson

John Hancock Mortgage-Backed Securities ETF

Redfin

美国按揭抵押债 ETF - Vanguard

房地产指数 ETF - iShares 道琼斯

房屋 ETF - Hoya

基准数据与基础设施房地产 SCTR ETF - Pacer

Schwab® Mortgage-Backed Securities ETF

iShares US Digital Infrastructure and Real Estate ETF

美国房产建设 ETF - iShares

PIMCO Mortgage-Backed Securities Act ETF

美国房地产投资信托 ETF - Charles Schwab

美国房地产 ETF - SPDR

美国房地产 ETF - Vanguard

按揭地产信托收入 ETF - VanEck Vectors

房屋卖家正在以十年来最快的速度重新挂牌出售房产，但春季的供应量仍然较低