Buyers Grab Leverage as U.S. Homebuying Drops to a July Record Low
TL;DR Summary
Redfin's July housing report shows a record gap: about 51% more sellers than buyers nationwide (966,752 buyers vs 1,462,921 sellers), with 39 of 49 metros in buyer's markets; Miami, Nashville and several Texas metros lead, as high mortgage rates curb demand and give remaining buyers more negotiating power, suggesting a Labor Day window could be favorable for deals.
- The Number of U.S. Homebuyers Just Dropped to a Record Low, Shifting the Market Further in Buyers' Favor Yahoo Finance
- An economist flags a worrying sign of 'cracking' home prices with parallels to the 2008 meltdown Business Insider
- Zillow predicts major mortgage rate, housing market change thestreet.com
- US Homebuyers Are Feeling Priced Out. Are You One of Them? Bloomberg.com
- US existing home sales fall further; small business sentiment at 11-month high Reuters
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