According to Redfin, the real estate market in the US has shifted in favor of buyers, with increased supply leading to homes selling for nearly 2% less than the listing price. Inventory is up by 5% compared to last year, causing listings to sit longer and prices to slow down. Sellers are more willing to negotiate, but deals are failing to close at the highest rate since 2017. The Sunbelt is particularly favorable to buyers due to an abundance of new construction, while the Northeast still leans towards sellers.
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