

“The record-high dollar value of all homes listed for sale is one way to quantify this buyer’s market,” said Chen Zhao, Redfin’s head of economics research. “Not only are there more homes for sale than there have been in five years, but the value of those homes is higher than it has ever been.
Weird, so you’re telling me homes are more expensive than they’ve ever been, nobody can afford current mortgage rates, homeowners are letting their properties rot rather than lowering prices, and this somehow makes a buyer’s market? All I’ve been hearing from real estate professionals my whole life is that anything less than 6 months of inventory is considered a seller’s market. Redfin’s data says the US housing supply is currently at 3 months of inventory, and that’s the highest it’s been in the past 5 years.
It won’t, but it could.