Angel Hebert with Coldwell Banker One

The housing market is shifting in buyers' favor. Active inventory is up 8.9% compared to last year, home prices have fallen 2.4%, the biggest weekly drop on record since Realtor.com started tracking in 2018, and homes are taking six days longer to sell.

It's the third straight week of price declines, and Realtor.com economists say the slowdown "goes beyond normal seasonality." Mortgage rates are also lower than they were a year ago, with the average 30-year fixed rate at 6.11% for the week ending Feb. 5, according to Freddie Mac.

Read: https://rltor.cm/I8Q1oe

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