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The 1 Factor That Explains Everything Happening with Home Prices Right Now

You've probably heard that home prices are cooling off. And that's true – nationally. But zoom in on individual markets across the country, and the picture looks completely different depending on where you are. Some areas are still seeing solid price growth . Others have gone flat. A few have actually dipped slightly negative. So, what's causing all of that variation?   It All Comes Down to Inventory Here's the simple version: When there are more homes for sale, buyers have options. More options, means less competition. Less competition means sellers can't push prices as high. On the flip side, when inventory is tight, buyers are competing over a small pool of homes, and that pushes prices up. That dynamic is playing out right now in a really visible way across the country.  Markets where inventory has climbed back to, or above, normal pre-pandemic levels are seeing prices flatten or fall slightly. Markets where inventory is still well below those 2019 benchmarks a...

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