“Stagnant” is probably too polite a term to describe the current real estate market. Not much has changed involving listings, mortgage rates, median list prices – everything except active listings which has increased by 22.8% year over year.
While there are exceptions to this, at least in the Northeast and Midwest – see last week’s “The hottest zips” for more – the fact is would-be buyers aren’t buying and sellers are cutting list prices as homes continue to sit on the market.
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