Housing Reset: Buyer-Friendly Market Gets Its Footing

Dated: August 26 2022

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Homebuyers have been struggling with limited inventory and high prices over the last couple of years.

But Realtor.com® Economist Danielle Hale says the real estate market is "resetting in a buyer-friendly direction." That doesn't mean it's not a seller's market — however, sellers are beginning to realize that the days of overnight sales and bidding wars are over.

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Hale pointed to slowing home price growth in the last two weeks as good news, although the median home price nationwide is at a staggering $449,000. She concluded that buyers may still face "meaningful affordability challenges," although there's no denying that the "improvement has been substantial" in favor of buyers.

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Rosario & Donna Panzarella

Your Real Estate Journey. Streamlined with Dual Expertise.At TrueNorth Group, we're more than just a real estate team—we’re a fully licensed duo in both real estate and mortgage lending, o....

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