The US housing market has reached a lopsided imbalance between buyers and sellers, with nearly 34% more sellers than buyers as of April. This trend is driven by high prices and mortgage rates, which have pushed the balance of power toward buyers. As a result, home shoppers face less competition for listings, while sellers must make concessions to attract buyers. The market’s shift is expected to lead to lower home prices, but affordability remains a concern for many Americans.
Source: https://apnews.com/article/housing-market-real-estate-affordability-mortgage-rates-a8fad991e022d541c1ac4d95f78ccffa