None of the inventory increase is from a surge of sellers, though. That means that even as buyer demand slows way down again, sellers are holding back, too.
It's common now to hear 8% mortgage rates being quoted to potential homebuyers, and that's inspiring a wait-and-see attitude as buyers are forced to sit on the sidelines.
It's not uncommon to see more price reductions this time of year so sellers can close their home sale before the holidays. But this year, the pace of those discounts is accelerating.
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