The past few years have been tough for buyers. Thanks to a historic inventory shortage, would-be buyers often faced fierce competition and bidding wars, driving up prices and causing many homes across the country to sell for much higher than their asking price.
But, in good news for buyers, it looks like that trend is finally over.
According to a recent report from CoreLogic, 31 percent of homes in the US in March 2019 sold at or above the asking price. That’s a significant drop from the Q2 2018 peak of 40 percent and in line with data from the early 2000s—before the housing market collapsed and the Great Recession hit.
If you’ve been thinking about buying but have been put off by bidding wars and higher-than-asking prices, it looks like the market is finally starting to swing towards buyers—and buying a home for a reasonable price should be a lot easier.