After the last few years of skyrocketing home prices and elevated mortgage rates, Americans have been feeling overwhelmingly dejected about their prospects of buying a home. But there are now signs that maybe, just maybe, the worst could be over for homebuyers.
“June, in particular, has started to show the housing market slowing down in favor of buyers,” said Skylar Olsen, Zillow’s chief economist.
During the pandemic, families and remote workers rushed to find homes offering extra space, taking advantage of historically low borrowing costs after the Federal Reserve slashed interest rates to
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