Image: Tim Boyle (Getty Images)
The U.S. housing market has undergone an unprecedented shift: Sellers now outnumber buyers by approximately 490,000.
It’s the largest disparity since Redfin, a real estate company, began tracking the data in 2013.
Redfin’s report, published Thursday, forecasts that if current trends persist, home prices could decline by 1% by the end of 2025, on average. “Prospective buyers may see their purchasing power increase, and prospective sellers should consider selling sooner rather than later,” the report states.