The housing market has favored sellers all year, as a lower-than-normal number of available homes for sale has kept buyer competition high. But, according to one new analysis, conditions are changing. In fact, the analysis found that the housing market has moved into neutral territory for the first time this year. That means the current market doesn’t favor buyers or sellers due to a better balance between supply and demand. The number of homes for sale has risen and competition among buyers has eased. That’s good news for home shoppers – but it depends, of course, on where they’re looking. Some markets, particularly in the Northeast, remain better for sellers due to still-low inventory, while markets in Florida and Texas have moved to fully favor buyers. Wherever you are, though, mortgage rates could change the trend in the months ahead. If rates continue to fall, as expected, it could revive home buyer demand, competition, and the number of markets where conditions favor sellers over buyers. (source)
