This is the best time in years to buy a house

New housing data show the market is starting to tip back in favor of buyers, including people who are looking for their first home, experts say.

New housing data show the market is starting to tip back in favor of buyers, including people who are looking for their first home, experts say.

New home sales just saw their slowest month in more than six years, the U.S. Census Bureau said Tuesday. Meanwhile, existing home sales in July fell for the sixth-consecutive month to their second-lowest point since the start of the pandemic, the National Association of Realtors (NAR) said last week.

And while the median sales price for an existing home climbed 10.8% from one year ago to $403,800 in July, it was down $10,000 from the previous month’s record high of $413,800, the NAR said.

That's the first monthly decrease since December 2021.

Price cuts were particularly substantial in pandemic home-buying boomtowns like Boise, Idaho; Salt Lake City; and Sacramento, California, the housing group Redfin reported Monday — although some of that decline was tied to some buyers backing out of the market.

https://www.nbcnews.com/business/consumer/best-time-to-buy-a-house-in-years-why-rcna44413

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