June saw the sharpest drop in home prices in 14 years, with average listings falling $2,113 to $376,191—defying the usual summer uptick. Warmer May weather, World Cup distractions, economic uncertainty, and a flood of listings are slowing the market early. Sellers must price smart and stand out, as buyers now compare options carefully amid higher mortgage rates and more choices. Affordability hotspots like the North East and Scotland held ground better than last year. Meanwhile, rents edged up 1.1% year-over-year in May, with the South East hitting $1,500/month outside London—landlords are holding back, waiting for ideal tenants to keep growth steady.
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