Inventoryu

In a year of housing market horrors for buyers, now may be the best time to buy, according to a new analysis from Redfin. In the last three weeks, rates have sunk from 8% to 7.4%, giving buyers breathing room after a succession of rate increases. Just last week, the 30-year fixed mortgage rate dropped by 25 bps, the largest single-week decline since July 2022. At the same time, though inventory remains low it is on the rise. New listings were up 1.5% YOY at the beginning of November, only the second stock increase in more than a year. Plus, with demand slowing as rates priced more buyers out of the market, the number of sellers cutting prices is on…