Realtor.com’s latest report shows homes closing at four weeks sell for 1.8 points above average. Here’s what the data means for your listings.
Zillow reports a five-year high in housing inventory with 1.36 million homes for sale in June, up 17.2% year over year and driving a record 26.6% of listings to cut prices.
According to new Realtor.com research, sellers this year are less likely to expect bidding wars and offers over the asking price, and more likely to expect longer days on market, along with fewer buyers willing to waive contingencies.
Zillow reports the U.S. housing market is closer to “normal,” with lower mortgage rates, inventory still less than ideal but more in line with seasonal expectations, and time on market higher than a year ago but lower than pre-pandemic norms.
According to a new Redfin report, time on market for homes has doubled since spring as mortgage rates are at a 20-year high and mortgage applications have dropped to a 25-year low.
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