South Florida housing market is shifting toward the buyers’ advantage
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The US housing market is shifting towards a buyer-friendly direction, with rising inventory and dwindling sales giving buyers more options and negotiating power. Despite this, the market is not yet considered a buyer's market, with a 4.4-month supply of homes available, below the 6-month threshold that defines a buyer's market.
The US housing market is seeing a shift towards buyers. Inventory is rising, with a 31.5% year-over-year increase in May. Homes are taking longer to sell, with the typical home spending 51 days on the market. Sellers are offering price reductions, with 19.1% of listings reporting price cuts in May. Home prices remain flat, but buyers have more options and time to consider their choices. The market is moving towards a more balanced state, with buyers gaining power.
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