The housing market is shifting, but not everywhere at the same pace. 🏡 Home price growth is slowing, inventory is rising and buyers are gaining more room to negotiate. In September, 60.5% of homes sold below their original asking price, while home-sale prices rose just 1.3% year over year. But location still matters. Some markets are seeing prices decline, while others remain competitive. Swipe through Redfin's housing market update for a closer look at the trends shaping the market for buyers and sellers. Full report by Dana Anderson, Redfin Principal Data Journalist in the comments!
The stat about 60% of homes selling below asking is the one buyers need to see. It's easy to forget you have leverage right now especially if you're buying for the first time and not used to negotiating.
Full Report: https://www.redfin.com/news/pending-home-sales-sink-rates/