Reported 6 months ago
Zillow reported that nearly a quarter of homes on the market in June had price cuts, the highest rate since 2018, indicating easing competition due to high costs and rising inventory. Sellers are reducing prices as inventory piles up, with a 23% increase in homes for sale from last year. While housing inventory is still below pre-pandemic levels, the demand-supply imbalance has lessened, leading to a decrease in the rate of home price appreciation and a shift towards a more balanced market benefiting buyers.
Source: YAHOO