Home prices begin to cool as active listings jump 35%

Home prices are beginning to ease, though they remain higher than last year. Recent data shows shrinking price gains and more sellers lowering prices after a slow spring market. For the first time since the pandemic began, typical homes sold slightly below the asking price. However, the housing market isn't crashing—most homes still sell above asking, just fewer than in recent years.

This cooling trend is largely due to a 35% increase in active listings, providing more options for buyers and easing competitive pressures. While this shift brings a more balanced market, it remains robust with homes selling above asking prices at a slower pace. The increased supply is offering some relief for buyers, marking a move towards a more sustainable housing market.

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