In Late-Q2, US asking prices fell ~3% yearly, the eighth straight decline, while pending sales rose ~4% yearly for a seventh straight month.
The national median listing price reached $430K, active inventory topped 1.1M homes with yearly growth, and new listings also increased, expanding buyer choice.
Homes spent a median 53 days on market, matching the prior year and resembling prepandemic timing, a sign transaction activity had stabilized.
Sellers appeared to price more realistically: ~19% of active listings had reductions in Late-Q2, down ~2 points yearly, while cancellations stayed below prior levels.
A typical Early-Q3 slowdown was expected, but the market had not yet shown longer selling times, faster price cuts, or fewer new listings.
