Housing Market Sees Shift as Home Sellers Outnumber Buyers

A recent report by real estate company Redfin reveals a significant shift in the US housing market. Home sellers now outnumber buyers by nearly 500,000, marking the largest gap in 12 years. This imbalance suggests a potential slowdown in the market, fueled by factors such as trade tensions and economic uncertainty. Despite high home prices and mortgage rates, demand for new homes has decreased. Sellers are adjusting pricing strategies to attract buyers, with Redfin predicting a 1% drop in home prices by year-end. This shift indicates a departure from the rapid price increases seen in recent years, signaling a more balanced market ahead. (CNN)