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Red-Hot Housing Market Finally Shows Signs of Cooling Off

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There’s no doubt that many Americans who had their sights set on purchasing a home in 2022 have been left disappointed due to ever-climbing home prices and mortgage rates.

However, as reported by CNBC, there is finally some good news on the horizon: the supply of homes for sale could slowly increase over the next few weeks, according to the latest data released by Realtor.com. This increase could potentially moderate prices, which have surged nearly 20 percent over the past year, in the current red-hot housing market.

CNBC’s report noted that housing inventory was 12 percent lower in April 2022 compared to the same month last year—the smallest year-over-year decline since 2019. A reading for April’s final week showed that inventory was down only roughly 3 percent from last year.

“April data suggests a positive turn of events is on the horizon for........

© The National Interest

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