One of the biggest headlines this week? Housing inventory is booming. In just seven days, the number of homes available for sale increased by 17,000—a single-week gain unmatched in almost three years. For many buyers, this is a game-changer. The neighborhoods that once seemed out of reach, with nothing on the market, now offer multiple options to explore. If your number one choice community was previously a housing desert, you might have a few new listings to tour this week.
But that’s not the only driver behind the uptick in home sales. More sellers are becoming attuned to the fact that the high-flying seller’s market of 2021 and 2022 is largely in the past. This new awareness is translating into more competitive pricing, with the percentage of properties featuring price reductions climbing to 35.6% this month. In other words, buyers have more negotiating power—and more choices.
As inventory rises, the pressure that once sent home prices skyrocketing has eased. The median price for pending home sales hit $399,000 this week—a price that is just a fraction higher compared to this time last year. For both buyers and sellers, this points to a market that is balancing, offering greater opportunities and more stable pricing.
Navigating a changing real estate market requires flexibility and expertise. At QRL Financial Services, we specialize in providing one-stop, comprehensive, and cost-effective residential mortgage services tailored specifically for you. Whether you’re helping borrowers purchase their first home, or refinancing existing properties, our team is dedicated to simplifying the mortgage process and delivering outstanding service.
Want to learn how QRL Financial Services can help you succeed in today’s dynamic market? Contact us today to discover solutions that fit your needs—on your terms.
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