Now that the summer market has passed and the dust has settled, there’s enough available data to properly analyze how things went. According to one recent breakdown, the numbers look good for home buyers. That’s because the balance of supply and demand has changed and, for buyers, this summer was the best in a decade. The analysis found that there were an estimated 35.2 percent more home sellers than buyers in August, which is the second highest percentage since 2013. The only month with a higher percentage of sellers versus buyers was June. Why’s that good? Well, when sellers outnumber buyers, buyers get better deals because homeowners have to do more to attract interest. Typically, that starts with a lower price. Which is why there’s evidence that price cuts are currently on the rise. That, along with moderating mortgage rates, puts home shoppers in good position – one that may improve even further in the months ahead. (source)
