"The housing market is starting to look familiar again, with new listings back near pre-2020 norms and price cuts holding in a typical range. Homes are moving, suggesting a recovery phase."
"In 2017, the housing market appeared functional, but it was moving toward a slowdown due to higher rates and affordability pressures. Today's market is emerging from a reset, indicating a different trajectory."
"The current market is characterized by higher weekly pending sales, new listings, and inventory, signaling an outperforming week for housing and a shift towards early-cycle normalization."
The housing market is showing signs of recovery, with new listings and pending sales returning to pre-2020 levels. Price cuts are stabilizing, and inventory is increasing. Unlike 2017, which was characterized by late-cycle fragility, the current market is emerging from a trough. The reset caused by the 2022 rate shock has led to cautious buyers and reduced transactions, but now supply is returning, and demand is responding positively. This indicates a balanced market moving towards normalization rather than a slowdown.
Read at www.housingwire.com
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