<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Real estate outlook looks up for 2024"/><p class="gnt_ar_b_p">Homes sold below their list price at the peak of the housing season, Redfin reports, a development that could shift the real estate market to the buyer’s advantage.</p><p class="gnt_ar_b_p">The typical home that sold during a four-week span in May and June<a target="_blank" href="https://www.redfin.com/news/housing-market-update-homes-selling-below-asking-price-june-2024/" rel="noreferrer noopener" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a"> went for 0.3% less</a> than its asking price, according to the real estate brokerage Redfin.</p><p class="gnt_ar_b_p">That data point matters, housing experts say, because the market hits its annual peak in late spring and early summer. In the last few years, the average home sold at or above list price at that time of year. This year, it did not.</p><p class="gnt_ar_b_p">“It means that the housing market is starting to move to the buyer’s favor,” said<a target="_blank" href="https://www.redfin.com/news/author/darylfairweather/" rel="noreferrer noopener" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a"> Daryl Fairweather</a>, chief economist at Redfin.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">Redfin found that fewer than one-third of homes - 32% - sold over list price in the four weeks ending June 23. That is the lowest quotient for late spring since 2020, when the pandemic hobbled the housing market.</p><p class="gnt_ar_b_p"><strong>Learn more:</strong> <a target="_blank" rel="noopener" data-t-l=":body nav (mort)|e|auto spike click:6|${u}" class="gnt_ar_b_a" href="https://www.usatoday.com/money/blueprint/mortgages/best-mortgage-lenders/">Best mortgage lenders</a></p><p class="gnt_ar_b_p">That’s good news for buyers. For sellers, not so much.</p><figure class="gnt_em gnt_em_img"><img class="gnt_em_img_i" style="height:413px" fetchpriority="high" data-g-r="lazy" src="https://www.usatoday.com/gcdn/authoring/authoring-images/2024/05/16/NPRJ/73712506007-11-re.jpg?width=660&height=413&fit=crop&format=pjpg&auto=webp" srcset="https://www.usatoday.com/gcdn/authoring/authoring-images/2024/05/16/NPRJ/73712506007-11-re.jpg?width=1320&height=826&fit=crop&format=pjpg&auto=webp 2x" decoding="async" alt="Real estate transactions"/></figure><h2 class="gnt_ar_b_mt">Real estate today: 'Buyers have the power'</h2><p class="gnt_ar_b_p">“Overall, what we’re seeing is that buyers have the power, and I’m actually seeing that everywhere,” said<a target="_blank" href="https://www.compass.com/agents/ryan-sypek/" rel="noreferrer noopener" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a"> Ryan Sypek</a>, a broker associate at Compass real estate in Los Angeles, California.</p><p class="gnt_ar_b_p">That is a change: In recent months, the housing market has been brutal for potential buyers.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">Both prices and mortgage rates are up. There’s a shortage of new homes. Homeowners are reluctant to sell old ones, because most of them hold mortgages with historically low...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/2024/07/09/homes-are-selling-below-list-price/74311419007/">Read more <span>➤</span></a> </div>
