SEE AMAZON.COM DEALS FOR TODAY
1. US home price cuts
2. High mortgage rates
3. Real estate market trends
BREAKING: 19.2% of US homes for sale had a price cut in May, the 2nd highest percentage in over a decade.
This was up from 13.2% a year ago and slightly below an all-time record posted in October 2022 of 21.7%.
Historically high mortgage rates and home prices as well as the…
In May, 19.2% of US homes for sale experienced a price cut, marking the 2nd highest percentage in over a decade. This figure is up from 13.2% a year ago and just below the all-time record set in October 2022 at 21.7%. The surge in price reductions is attributed to historically high mortgage rates and home prices. This data suggests that the housing market is facing challenges, leading to more sellers adjusting their prices to attract buyers. Stay informed on the latest trends in the real estate market to make informed decisions.
BREAKING: 19.2% of US homes for sale had a price cut in May, the 2nd highest percentage in over a decade.
This was up from 13.2% a year ago and slightly below an all-time record posted in October 2022 of 21.7%.
Historically high mortgage rates and home prices as well as the… pic.twitter.com/6ZvkXbO6mX
— The Kobeissi Letter (@KobeissiLetter) June 18, 2024
Related Story.
Are you in the market for a new home? Well, you might be in luck! Recent data shows that 19.2% of US homes for sale had a price cut in May, marking the 2nd highest percentage in over a decade. This is a significant increase from 13.2% just a year ago and is only slightly below the all-time record set in October 2022 of 21.7%.
So, what is causing this trend of price cuts in the housing market? The answer lies in historically high mortgage rates and home prices. With mortgage rates on the rise and home prices reaching new heights, many sellers are finding themselves having to reduce prices in order to attract buyers. This is good news for potential homebuyers who may have been priced out of the market in the past.
It’s important to note that while the percentage of homes with price cuts is on the rise, the overall housing market remains strong. Demand for homes is still high, and inventory is low in many areas. This means that competition among buyers is fierce, even with the increase in price cuts.
If you’re in the market for a new home, now may be a great time to start your search. With more homes seeing price cuts, you may be able to find a great deal on the home of your dreams. It’s always a good idea to work with a real estate agent who can help guide you through the process and negotiate the best price for you.
In conclusion, the housing market is seeing a trend of price cuts, with 19.2% of US homes for sale experiencing a reduction in price in May. This is the 2nd highest percentage in over a decade, up from 13.2% a year ago. With historically high mortgage rates and home prices, sellers are having to adjust their prices to attract buyers. If you’re in the market for a new home, now may be a great time to find a deal. Work with a real estate agent to help you navigate the market and find the perfect home for you.
Source: [The Kobeissi Letter](https://twitter.com/KobeissiLetter/status/1803043332211249613?ref_src=twsrc%5Etfw)
-------------- -------------