The Housing Market is Changing: Good News for Home Buyers!

Recent data from June 2024 shows a pretty interesting shift in the real estate market for people looking to buy a home. Skylar Olsen, Zillow's chief economist, says the housing market is starting to slow down a bit.

A Zillow report shows that nearly one in four home sellers offered price cuts in June. Homes are sitting on the market a bit longer, and sellers aren't getting as many offers as they used to. The average rate for a 30-year fixed-rate mortgage also recently dropped to its lowest level since mid-March with widespread expectation that the Federal Reserve might cut interest rates in September.

So, if you're thinking about buying a home, call or text us at 801-969-8989 for a free consultation, or message us with any questions.