Source: Market Watch —
The housing market is showing signs of ‘normalizing,’ according to a new report.
The latest monthly report by Realtor.com, which tracks the housing market as of December, said that the number of home listings were growing and were also spending more time on the market.
“The U.S. housing market continued to show signs of normalizing in December,” the report stated. “After the frenzy of the past two years, this suggests good news for homebuyers in the new year with more options and more time to make a decision.”
Home buyers continue to wait out the market downturn, with mortgage rates above 6%. Mortgage demand continues to be weak among buyers.
Hence the scales are tilting in their favor, with supply rising.
