"The housing market has transitioned to a more balanced state nationally, with a five months' supply reported in June, indicating a shift towards more buyer-friendly conditions as we head into fall. Seven of the top 50 U.S. metros have become buyer's markets, according to the latest report from Realtor.com economists. Miami leads the list with nearly 10 months' supply in June."
"Seven of the top 50 U.S. metros have become buyer's markets, according to the latest report from Realtor.com economists. Miami leads the list with nearly 10 months' supply in June. The shift towards more buyer-friendly markets in various metros, with increased inventory and slower sales pace, suggests a favorable environment for house hunters in the coming months. Buyers should be prepared for different market conditions depending on the specific segments they are interested in purchasing within these metros."
The national housing market moved toward balance with a five months' supply reported in June, signaling more buyer-friendly conditions heading into fall. Seven of the top 50 U.S. metros shifted into buyer's markets, with Miami showing the highest supply at about 9.7 months. Increased inventory and a slower sales pace in those metros are creating more opportunities and negotiating leverage for buyers. Market conditions can vary significantly by metro and by specific housing segments, so buyers should assess inventory and demand in the particular neighborhoods and price ranges they target. Months-of-supply thresholds help define market balance and shifts.
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