"Home Price Growth Is Cooling Fast—Does It Spell a Big Break for Homebuyers This Year?"
Posted by Grossman & Jones Group on
Realtor.com writes, "December brought good tidings to homebuyers in the real estate market.
Nationally, median home list prices dropped about 11% from their peak over the summer to hit $400,000 in December, according to a recent Realtor.com® report. While prices were still up by about 8.4% year over year in December, this was the first time in a year that they rose by only single digits.
In another holiday gift for home shoppers, the number of properties for sale nationally shot up more than 50% compared with a year ago. And homes are sitting on the market for longer, giving buyers an opportunity to think about whether this is the right home for them instead of having to put in an offer on the spot.
Mortgage interest rates even dipped from…
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