The Washington Post
Home prices are cooling off in many parts of the country — even falling in some regions — as more homes are listed for sale, slightly easing the long-standing inventory crunch.
The market is leveling as demand from buyers remains constrained and more homes come up for sale. But costs still remain highly elevated from the pre-pandemic years — since 2019, prices are up nearly 60 percent.
"Buyers were just simply hit with the housing affordability challenges," said Lawrence Yun, chief economist of the National Association of REALTORS®. "The buying aspiration is there, it’s just that the capacity is not."