Sellers Test Market for Spring Homebuyer Surge

US new listings ↑0.5% yearly in the four weeks ending March 8, first ↑ since November.
Mortgage rates dipped to 6%, pushing the median monthly payment ↓3.2% yearly to $2,611.
Pending sales ↓1.3% yearly, while mortgage-purchase applications ↑8% week over week.
More sellers than buyers gives buyers leverage, but more listings and lower payments could shift power back.
Some bidding wars on lower-priced homes; more if rates stay closer to 6% than 7%.