US EditionShortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on
Sellers face pressure as 70% of homebuyers are priced out, leading to price cuts or withdrawn listings amid rising mortgage rates and increased inventory in some U.S. markets, experts say.
- Home sellers are facing pressure to lower prices or negotiate better deals due to a lack of buyers and economic uncertainty.
- In states like Texas and Florida, new home construction is contributing to a sharp rise in available homes.
- The national median home listing price slightly rose to $439,450 in July, although many metro areas saw declines.
- Seven out of ten home shoppers are priced out of the market, based on figures from Realtor.com.
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Associated Press News+39 Reposted by 39 other sources
Shortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on
The housing market is becoming more buyer-friendly after years of sharply rising prices. Many Americans still can't afford homes, but those who can are finding that they have leverage to press sellers for better deals, such as lower prices and cash for closing costs and home improvements.
·United States
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Coverage Details
Total News Sources44
Leaning Left10Leaning Right5Center19Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 29%
C 56%
15%
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