44% of agents in CNBC’s second-quarter survey said the US housing market is now balanced, up from 30% in last year’s third quarter after years favoring sellers.
More listings, slower price growth and more realistic seller pricing are driving the shift, with Realtor.com reporting a 2.5% year-over-year drop in June asking prices—the largest since it began tracking.
May existing-home sales rose 3% from a year earlier, and agents reported fewer price cuts and fewer failed contracts as homes are priced more competitively.
Affordability still limits demand: the average 30-year fixed mortgage rate is about 6.6%, and inventory, though improved to roughly 1.1 million homes, remains historically tight.
Agent sentiment has cooled despite the better balance, with only 19% expecting sales to improve in the near term versus 48% a year ago.