The US housing market is on an epic roller coaster ride, with nearly a quarter of homes experiencing price cuts in June, the highest rate for this time of year since 2018, according to Zillow. High costs and rising inventory are leading to easing competition, helping buyers regain their footing. Zillow's June report highlighted that 24.5% of home listings faced price reductions due to cooler competition and changing market dynamics. Although booming construction has alleviated some of the supply crunch, inventory is still below pre-pandemic levels. The demand-supply imbalance has now been the smallest since 2020, with the lowest monthly growth rate since 2011 for June. While prices continue to rise, the appreciation rate has slowed, diminishing the seller's market advantage. Regionally, buyers' markets have emerged in Southern cities like New Orleans, Miami, Austin, Jacksonville, and Tampa, driven by high prices and insurance costs pushing buyers out.

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