"Home Prices Fluctuate, but Buyers Still Face Challenges in the Housing Market"

The median U.S. home-sale price is down just 0.9% year over year, the smallest decline in nearly four months, as a lack of homes for sale is keeping prices afloat. New listings are down 27% from a year ago, and pending sales are down 15%. The average home is now selling for its asking price, and desirable homes are receiving multiple offers and selling above asking price. High mortgage rates are deterring some homebuyers, but buyer demand still outnumbers home sellers. The median home sale price declined in 25 metros, with the biggest drops in Austin, Las Vegas, Detroit, Oakland, and Phoenix, while sale prices increased most in Providence, Milwaukee, Miami, Fort Lauderdale, and Cincinnati.