The US home market is finally slowing down.
According to new data from Realtor.com, Sellers slashed home prices in June.
According to Realtor.com, home sellers are responding to the fall in demand as more purchasers hold off due to increased mortgage rates and recessionary fears and that areas where there were a lot of eager out-of-state purchasers early in the outbreak have seen the biggest price reductions.
Rising house buyer demand over the previous two years has resulted in a historically low supply of available properties, which has in turn driven up prices.
