According to Realtor.com's recent monthly trends report, the bargaining power of U.S. homebuyers improved in January.
Falling
mortgage rates, increase in inventory, and slower growth in asking
price contributed to the improvement in bargaining power.
- Chief
Economist at Realtor.com, Danielle Hale, said the trends show that
buyers are gaining an advantage in the market but are discouraged by
high prices and financing costs.
- Nashville led 49 of the 50
largest U.S. metros that reported yearly active inventory gains last
month. Austin and Rayleigh followed Nashville, while Hartford reported
an inventory decline.
- A typical U.S. home spent 75 days on the market, seeing a 13-day YoY increase.
- The annual decline in new listings, an indicator of home selling interest, dropped by 5.4%.