When a quaint home in Conestoga, Pennsylvania, hit the market recently, the listing went viral. Illustrated in the style of Vincent van Gogh’s “Starry Night,” the walls are colored with vibrant, swirling hues.

Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications. 

Though the number of active U.S. listings did shrink in April, it fell by the smallest amount — 12.2% — since December 2019, according to a new monthly report from Realtor.com. And the change has left experts feeling confident.

The 8,500-square-foot waterfront property features seven bedrooms and eight bathrooms, elevator, pool deck, rooftop deck and dock.

Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding period. 

Juan Hernandez will lead the new office and oversee operations for Naples, Fort Myers and the surrounding areas, the company said in a news release.

Surging mortgage rates, home prices are making it less competitive to buy a home

ONE Park Tower by Turnberry will offer one- to three-bedroom units and penthouses, from 900 to 2,100 square feet. Pricing starts at $500,000.

Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said.

Low inventory and rising interest rates have reduced prospective homebuyer purchasing power.