1319 ET - Sellers are adapting to a shifting market, Realtor.com says, with 16.8% of homes seeing price cuts in February, up from 14.6% last year. New listings were up 4.2% year over year--the highest February activity since 2021--pushing median list prices down to $412,000, below 2024 levels, partly due to more smaller homes listed. Despite increased activity, no clear link ties markets with big government workforces to the sharpest slowdowns. Inventory growth, days on market, and price softening show no distinct trends in these areas yet, likely due to recent workforce shifts. Federal job cuts could eventually impact housing in government-heavy regions, Realtor.com says, depending on private-sector strength, but effects may lag as sellers typically need weeks to list homes. For now, these markets mirror broader trends, with potential changes still on the horizon. (chris.wack@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 13:19 ET (18:19 GMT)
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