Buyers’ Strike Deepened in August Despite Lower Mortgage Rates. Listings Surge, Home Sellers Slowly Drop Prices

In August, “the housing market slowed considerably as both buyers and sellers patiently wait for a lower mortgage rate environment,” Realtor.com reported today, along with dropping listing prices, waves of price reductions, surging – or exploding – active listings, and rising days a property spent on the market before it was sold or pulled off the market.