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Housing Market Shows First Signs of Normalizing in 2023—Here’s What That Means for Homebuyers

Pro Builder

Sidelined buyers who have been waiting for price reductions and a boost in for-sale inventory may find opportunities for homeownership in 2023. Active inventory of homes for sale was up 55% in December 2022, and of those active listings, 14% saw their prices slashed at the end of the year. For the past two years, the U.S. Raleigh, N.C.

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Is the Housing Market Becoming More Buyer-Friendly?

Pro Builder

Home prices are moderating and buyers are regaining bargaining power in a market correction, but a lingering affordability crisis is keeping some house hunters glued to the sidelines. A housing slowdown is giving buyers more bargaining power, but as a growing number of sellers opt to stay put, inventory is dwindling.

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A Housing Slowdown Could Define the Spring Market

Pro Builder

After logging consistent lows throughout the course of the pandemic, housing inventory started an upward trajectory in March, and many experts anticipate that supply levels could see year-over-year growth before the end of 2022. .

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The Top 10 Most Affordable Metros for First-Time Buyers in 2023

Pro Builder

With comparatively high inventory and affordable home prices, these metros are prime homebuying locations for first-time house hunters in 2023. Markets like Wichita, KS offer an inventory to buyer ratio of 22 to 1 with price reductions in 22% of all listings, Zillow reports. Thu, 12/15/2022 - 10:15.

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As Home Sales Slow, New Listings Are Falling

Pro Builder

Active inventory growth is at a standstill as fewer sellers opt to list their properties in the midst of a fast-paced housing correction. However, inventory growth has stalled recently as new listings have declined year-over-year. Wed, 09/14/2022 - 09:59.

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In Pursuit of Affordability, Homebuyers Are Heading to Cities With the Biggest Climate Risks

Pro Builder

That's because even though Sun Belt home prices soared during the pandemic, those metros remain a bargain for people relocating from expensive coastal cities. Arizona's recent limit on new construction isn't likely to deplete inventory enough – or push prices up enough – to change that calculus much in the short term."

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10 Most Affordable Metros for First-Time Buyers in 2023

Pro Builder

Wichita, KS tops Zillow’s list of the best markets for first-timers with a 22 to 1 inventory to buyer ratio and price reductions in 22% of regional listings. A higher number of active for-sale listings relative to the number of active shoppers means more options and higher bargaining power for potential home buyers in those markets.

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