Signs of a slowing real estate market are growing—existing-home sales and new-home sales are slipping. Many home sellers are worried that they could miss out on the typical buyer frenzy.
The inventory of homes for sale went up by 9% last week compared to 2021. New listings are rising as well: nearly twice as fast in the past four weeks as they did a year ago.
As a result, home sellers are seeing less competition from buyers. According to Redfin, nearly one in five sellers are dropping their asking prices…the highest rate since October 2019.
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