August 26th, 2022 9:43 AM by Joe Minotto
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.
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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