Buyer's Market: Power Shift in Housing
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Redfins latest data reveals a significant shift in the U.S. housing market, with many areas now favoring buyers. In February, over half of listings in cities like Miami, San Antonio, Pittsburgh, and West Palm Beach went stale, while the Bay Area remained steady. Buyers are negotiating below asking price, and sellers are struggling to find offers. Rising mortgage rates are making homes more affordable for buyers. However, trends are starting to change in March, with median days on market dropping and home sales dipping slightly. As spring buying season approaches, buyers should aim for concessions, and sellers should price strategically to avoid listings going stale.
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