Market Trends

The housing market is leveling out, with smaller, more affordable homes being listed and sellers pricing more competitively as 423,000 new homes go up for sale, according to Realtor.com’s August Housing Market Trends Report. The data show the number of homes actively for sale was up 4.3% nationally in August over the past year, and up 5.1% specifically in large metro areas. “A deceleration in the decline of inventory means the market is heading in an encouraging direction, but active inventory still remains historically low,” the report said. Freddie Mac estimates the US is short 3.8 million single-family homes. That estimate represents a 52% rise in the nation’s home shortage compared with 2018. “Low mortgage rates have motivated homebuyers to endure this…