Reported 9 months ago
Redfin's chief economist, Daryl Fairweather, discusses a new report revealing that the typical US home is selling below list price for the first time since the pandemic began. Fairweather notes a trend of 'early softening' in the market, where buyers can negotiate prices and other terms. The increase in new home sales is creating more competition among sellers, leading to price drops and incentives. Fairweather also mentions the sensitivity of buyers to interest rates, highlighting the potential for buyers to return to the market if rates decrease, impacting affordability.
Source: YAHOO