Americans looking to purchase a home in certain US cities might be pleasantly surprised to find the tide is shifting their way this spring after years of challenging affordability.
There were 3.7 months of for-sale supply on the market in January, the most in six years, according to a recent Redfin analysis. That means it would take more than three months to sell all the homes that were listed for sale in January, given monthly average sales volume.
The findings point to a housing market where sellers are slowly losing leverage after years of having the upper hand. Generally, more than four months of supply sitting on the market indicates a full-tilt buyers’ market.
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