After years of soaring prices and bidding wars, the housing market is finally turning a corner. Asking prices fell 2.5% in June, the biggest year-over-year drop since 2017, and more than 60% of the nation's largest housing markets now favor buyers or are balanced.
But the biggest story isn't national, it's local, and Realtor.com®'s new Market Clock helps consumers quickly see who has the advantage in their own market.
This summer is giving buyers their best opportunity in years. Inventory is growing, sellers are pricing homes more realistically, and pending sales have risen for seven straight months. While conditions are improving nationally, the biggest opportunities are concentrated in parts of the South and West, while many Midwest and Northeast markets remain highly competitive.
To help consumers navigate these shifting conditions, Realtor.com® created the Market Clock, a simple tool that shows whether a local market favors buyers, sellers, or is balanced, and which direction it's moving. It's not a price forecast; it's a snapshot of negotiating leverage, helping buyers know how aggressive to be and sellers better understand pricing expectations before making a move.