Record Increase in US Home Seller Price Cuts Signals Shift to Buyer's Market
- 1Redfin analyzed that a strong buyer's market has formed as the proportion of home sellers lowering asking prices increases.
- 2For the four weeks ending September 20, 21.1% of active US home listings from sellers saw price reductions.
- 3Freddie Mac stated that the average 30-year fixed mortgage rate rose to 7.28% as of October 1.
So what's the key point?
More people selling homes are lowering their prices. This has created a situation that favors buyers, and mortgage rates are at 7.28%.
Source Fortune · View original ↗
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