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Home Sales Slow: Prices Drop Amid Rising Inventory

7/9/2025

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Summary

Story summary

Homes are taking longer to sell, averaging 53 days in June, compared to last year.
Approximately 20% of listings experienced price reductions, the highest rate since 2016.
Year-over-year inventory rose by 28.9%, providing buyers with more choices.
Sellers are cautious, holding prices steady due to equity and low mortgage rates.
The market reflects a tug-of-war between buyers and sellers, leading to uncertain results.

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Story summary

Homes are taking longer to sell, averaging 53 days in June, compared to last year.
Approximately 20% of listings experienced price reductions, the highest rate since 2016.
Year-over-year inventory rose by 28.9%, providing buyers with more choices.
Sellers are cautious, holding prices steady due to equity and low mortgage rates.
The market reflects a tug-of-war between buyers and sellers, leading to uncertain results.