Competition in the housing market is cooling off. Here’s why

PUBLISHED FRI, JUN 14 20242:06 PM EDTUPDATED FRI, JUN 14 20243:48 PM EDT

By: Ana Teresa Solá

More homeowners are listing their homes for sale, but properties are taking longer to sell as potential buyers face high prices and interest rates.

New listings from home sellers jumped in May, up 13% from a year ago, according to the latest market report by Zillow.

“You have an increase in sellers coming back on the market,” said Orphe Divounguy, a senior economist at Zillow. LEARN MORE…

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