New economic data reveals a shifting balance in the housing market favoring homebuyers, driven by increased housing inventory and rising price cuts. The labor market saw growth in jobs and a decrease in the unemployment rate, contributing to purchasing power, although rising mortgage rates dampen enthusiasm. While the number of homes for sale has reached a new high, some sellers are opting to pull their listings rather than reduce prices, evidenced by a 47% surge in delistings year over year. This mixed sentiment reflects economic uncertainty among potential buyers.
The U.S. labor market outperformed expectations in June, adding jobs and nudging the unemployment rate lower. While wage growth cooled slightly, it still outpaced inflation.
The number of homes for sale has now increased for 20 consecutive months, reaching a post-pandemic high, according to Realtor.com data.
More homes for sale, rising price cuts, and slower-moving inventory are giving buyers more leverage than they've had in years, according to the June 2025 housing report.
Delistings surged 47% year over year as of May, a sign that not all homeowners are willing to meet the market where it is.
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