Competition in the housing market is expected to reignite as falling mortgage rates breathe new life into buyers, according to Zillow's latest report.
Although rate lock among homeowners is easing, they probably won't be as motivated to jump back into the market and sell.
With housing inventory still scarce, this improved affordability picture could reignite competition and sales as we head into the fall.
Homes are taking longer to sell; in July, listings took almost a week longer to sell than they did last year.
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