Homebuyers Gain Upper Hand as Seller Numbers Surge

For the first time in years, U.S. homebuyers have gained the upper hand due to an increase in housing inventory, leading to less competition and potential price reductions, especially in Los Angeles where sellers outnumber buyers by about 45%. Despite rising mortgage rates and prices, the market is shifting towards buyers, with many sellers offering concessions and price reductions, and experts advising education and awareness of assistance programs for homeownership.