The Housing Market Just Hit A Turning Point

 

 

 

The Housing Market Just Hit A Turning Point

 

The Housing Market Just Hit a Turning Point That Could Change the Homebuying Game Mark your calendars: The month of May might go down as a turning point in the red-hot real estate market that’s been scalding homebuyers for the past few years. The number of new listings that hit the market last month rose for the first time since June 2019, according to a new report from Realtor.com®. Buyers can expect more inventory going forward, more homes to choose from." "For context, even though we’re seeing inventory grow, it remains quite low," says Hale. " How high are home prices now? In May, the median asking price of a home soared to yet another new apex of $447,000. As a result, some homebuyers have given up their house hunt until home prices and/or interest rates fall back within realistic reach—whenever that may be.