Homebuyers Gain Upper Hand as Seller Numbers Surge
TL;DR
For the first time in years, U.S. homebuyers have gained the upper hand due to an increase in housing inventory, leading to less competition and potential price reductions, especially in Los Angeles where sellers outnumber buyers by about 45%. Despite rising mortgage rates and prices, the market is shifting towards buyers, with many sellers offering concessions and price reductions, and experts advising education and awareness of assistance programs for homeownership.
- Homebuyers, including those looking in LA, may have upper hand in housing market for 1st time in years, according to Redfin report abc7.com
- Homesellers now outnumber buyers by half a million: Redfin The Hill
- The Housing Market Has Nearly 500,000 More Sellers Than Buyers Redfin
- Number of Americans Selling Their Home Soars to Record High Newsweek
- Here’s what home sellers are doing to counter a brutal buyer’s market this summer MarketWatch
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