NORTH DAKOTA (KXNET) — The pressure on the housing market is getting some relief as homeowners are finally ready to list their homes. In a report by Realtor.com, nearly 12% more homes were listed in September than last year, which is a three-year high. These contributed to the highest number of active listings since April 2020 While mortgage rates fall from record highs, homeowners are feeling encouraged to list their homes. However, those who bought or refinanced during the ultra-low mortgage rates are hesitant and afraid to give up that rate. This home inventory decrease caused prices to be higher than wages. "Falling rates are an incentive for homeowners to sell because they know demand is coming back, and they feel less locked in by their relatively low rate," explained Redfin real estate agent, Max Shadle. First date taboo topic becomes more common During the pandemic, federal funds rates dropped to near zero to try to revive the economy and avoid a recession, but the Federal Reserve's rates influenced mortgage rates. Homeowners then took advantage to buy or refinance. Then, in 2021 when inflation began to flare up, the Fed lifted those rates to a 23-year high. Which, in turn, raised mortgage rates once again. Data shows that mortgage rates hit a two-year low a week after the Federal Reserve cut the interest rate in September. Now, homeowners are more willing to let go of the pandemic-era mortgage rates. According to a Redfin report for this week, there was a 4.3% increase in house listings since the Fed's decision. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW