The number of homes for sale across the United States increased at a record rate in July, signaling that higher mortgage rates and soaring prices are decreasing consumer demand for housing, according to a report published by Realtor.com on Aug. 9.
The growing number of homes for sale could mean that would-be buyers may have more negotiating power when it comes to purchasing property, as inventory levels continue to rise. This will no doubt be a welcome change to potential buyers, after years of the increasing rise of home prices, lower inventory levels, and increased demand.
