#HomeSalesSurge #HousingMarketRecovery #BuyersMarket
July Home Sales Break 4-Month Losing Streak as Supply Rises Nearly 20%
The housing market has finally seen a glimmer of hope as July home sales broke a four-month losing streak. This turnaround is largely attributed to a significant increase in housing supply, which rose by nearly 20% compared to the previous month.
According to recent data, the number of homes for sale has been steadily increasing, providing much-needed relief to potential buyers who have been struggling to find suitable properties. This surge in supply has led to a slight decrease in home prices, making them more accessible to a wider range of buyers.
Experts attribute this shift to a combination of factors, including a decrease in mortgage rates and an increase in new construction projects. As a result, the housing market is starting to show signs of stabilization after a prolonged period of decline.
The data suggests that the market is slowly shifting in favor of buyers, who now have more options and negotiating power. This could be a welcome change for those who have been waiting for the right moment to enter the market.
Original Article: https://www.cnbc.com/2024/08/22/july-home-sales-break-4-month-losing-streak-as-supply-rises-nearly-20percent.html
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