CompaniesBIO

Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%. The average home sold for less than its list price for the first time in more than 17 months during the four-week period ended Aug. 28, according to a report by Redfin. Homes are simply not selling at the breakneck pace they were six months ago when strong demand butted up against tight supply, bidding wars were the norm, and a seller could often get a signed contract in under a weekend. Homes in August sat on the market an average of five days longer than they did a year ago — the first annual increase in time on the market in over two years. New signs the red-hot housing market is cooling Aug. 18, 2022 01:43 Are we heading for a housing recession ? Aug. 19, 2022 02:10 The supply of homes for sale is also rising fast , up nearly 27% from a year ago, even as fewer sellers decide to list. Pe...

Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%. The average home sold for less than its list price for the first time in more than 17 months during the four-week period ended Aug. 28, according to a report by Redfin. Homes are simply not selling at the breakneck pace they were six months ago when strong demand butted up against tight supply, bidding wars were the norm, and a seller could often get a signed contract in under a weekend. Homes in August sat on the market an average of five days longer than they did a year ago — the first annual increase in time on the market in over two years. New signs the red-hot housing market is cooling Aug. 18, 2022 01:43 Are we heading for a housing recession ? Aug. 19, 2022 02:10 The supply of homes for sale is also rising fast , up nearly 27% from a year ago, even as fewer sellers decide to list. Pe...