‘Signs of a tipping point.’ Homebuyers now have about 20% more homes to choose from compared to a year ago, as home prices increasingly get cut

Source: Marketwatch — 

“Signs of a tipping point toward a greater balance between buyers and sellers are increasing,” wrote CoreLogic Deputy Chief Economist Selma Hepp in a statement in June. It was a quote that caught our eye, as we’ve heard from plenty of aspiring homebuyers wondering: Just when will I get a break? (Hint: For some buyers, that break is here, as price cuts are already more frequent.)

Indeed, buyers have faced high prices (they’ve climbed roughly 20% year over year, though price appreciation is slowing) and rising mortgage rates, though rates have dipped recently (you can see the lowest mortgage rates you might qualify for here) — as well as a serious inventory crunch. According to data from Freddie Mac and Realtor.com, the United States is short between 4 and 5 million homes.