A Buyer’s Bonanza or a Seller’s Dilemma? Where the Housing Market Sits Now and What It Means for YouPosted by Grossman & Jones Group on
The real estate market seems to have a split personality.
On the positive side for homebuyers, the number of properties for sale shot up by a record-setting 30.7% this July compared with the same month last year, according to a recent Realtor.com® report. That’s the most significant increase in active listings in the data’s history. And in another hopeful sign for buyers, the share of homes seeing their prices slashed—19.1%—hit a record not seen since 2019.
Yet on the flip side, the $449,000 median list price of homes is a 16.6% increase compared with last year. And the average time a home spends on the market before it sells remains significantly lower (a mere 35 days) than in pre-pandemic times.
So how does a savvy homebuyer make sense of…
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