Home prices have continued to rise despite slowing sales, but recent trends indicate a shift in favor of buyers. Realtor.com's February report shows that 16.8% of listed homes had price reductions, up from 14.6% a year prior. Newly listed homes increased by 4.2%, the highest February activity since 2021. The median home listing price fell to $412,000, partly due to more smaller homes being listed. Homes are also taking longer to sell, averaging 66 days, marking the 11th consecutive month of increased time on the market.
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