August saw home prices rise and the slowest pace of the year, up just 4.4% from the previous year, and homes being sold for 93.8% of their listing price, also a decrease. DSNews staffer Kendall Baer explains that in these ways buyers saw their power increase during the month of August.
However, he goes on to point out that despite this and other factors we are still very much in a seller's market:
“To be clear, it’s still firmly a sellers’ market, but the seller can no longer dictate any price they want, they have to price the home right,” Richardson told DS News. “With inventory where it is, it’s going to be a sellers’ market for a long time, but buyers are getting some relief. Price growth slowed to its lowest pace of the year..."