Residential real estate is in a constant slipstream of whose market it is: buyer, seller, or often “nobody.”
Now, signs are emerging that a more buyer-friendly market might be on the horizon (even though mortgage rates are on the rise again after plunging last month). That’s because in more than half of the 50 largest markets in the U.S., median list prices have decreased year over year—in one case by more than 12%, according to the Realtor.com® September Housing Market Report.
This is great news for weary buyers who have long faced affordability headwinds and home prices that soared to a record high of $445,000 in June 2023.