Redfin has ranked the country's slowing housing markets in terms of prices, price drops, supply, pending sales, sales-to-list ratio, and speed-of-home sales. Seattle was first on the list, while Portland registered at 14th.
“These are all places where homebuyers are feeling the sting of rising home prices, higher mortgage rates and inflation very sharply. They’re slowing down partly because so many people have been priced out and partly because last year’s record-low rates made them unsustainably hot,” said Redfin Chief Economist Daryl Fairweather in a release. “The good news is that the slowdown is dampening competition and giving those who can still afford to buy more negotiating power.”
Read more at BizJournals.com.
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