Reported 3 days ago
The housing market is facing significant challenges as potential buyers are overwhelmed by high home prices and elevated mortgage rates. Recent reports indicate that sellers now outnumber buyers for the first time since the pandemic, creating a favorable condition for buyers to negotiate lower prices. However, mortgage rates remain high, complicating the situation for prospective homeowners. As the market adjusts, there are indications that prices might start to decline, particularly in areas that witnessed a surge in demand during the pandemic.
Source: YAHOO