A growing number of sellers are bringing their homes to the market this spring, giving buyers more choices and greater negotiating power in many parts of the country. But affordability remains a hurdle as mortgage rates hover stubbornly close to 7% and prices continue to climb from year-earlier levels, albeit at a slower pace.

A Redfin Corp. analysis of the 50 most populous metro areas estimated there were 34% more sellers than buyers actively in the market last month, the biggest gap in records dating back to 2013. The brokerage said it expects home prices to drop 1% by the end of the year as a result of the mismatch.

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