08/19/2025
It’s getting a little better for buyers! Call me today!
Agents, are you seeing this in your market? 💭
More than half of all homes are selling for less than their asking price, as buyers gain leverage in a weaker housing market, according to a new Cotality report.
May saw a 15% drop in total home sales compared to last year, while the national median list price held firm at $495,000. Mortgage rates hovering near 7% continue to shrink the buyer pool, creating a challenging environment for sellers.
Here’s the key takeaway: With fewer buyers actively shopping, sellers are feeling pressure to adjust expectations. Over half of homes, 56%, sold below asking price in May.
Learn more and see which states have some of the largest inventory increases: https://rltor.cm/a63128