New housing data shows home prices fell 2.4% nationwide, the largest drop since 2017, with the West seeing a 4% decline. Sellers are listing homes with more realistic prices, reducing the need for later cuts. Inventory rose 2.2% year-over-year, easing competition and bidding wars. The Midwest and Northeast saw notable inventory increases, suggesting more homeowners are willing to sell despite higher mortgage rates. The market is moving toward better balance.
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