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Tag: coronavirus pandemic brought

Homebuyers have dropped to the lowest level ever — a stark warning for where house prices are heading

The US housing market is now the strongest buyer’s market in records dating back more than a decade, but that doesn’t mean they are biting. New Redfin data shows home sellers outnumbered buyers by 36. 8 percent in October, with 528, 769 more sellers than buyers nationwide. That imbalance is the highest since the years following the 2008 financial crisis, and it has flooded the market with listings and forced sellers to slash prices across much of the country. In theory, buyers should now have the upper hand: more homes to choose from, more room to negotiate, and far less competition. But.