1009 ET - The U.S. housing market has shifted toward buyers, with January seeing 3.7 months of for-sale supply, the highest since February 2019. This trend favors buyers especially in Sun Belt metros, while sellers still hold sway in the Northeast and Midwest, according to Redfin. Data indicates a buyer's market with supply nearing the 4-6 month benchmark. Other signs include a 6.3% drop in pending sales, homes staying on the market longer (56 days) slower price growth (4.1% year-over-year), increased negotiation with homes selling below asking price, and a high rate of deal cancellations. (chris.wack@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 10:09 ET (15:09 GMT)
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