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Perspective home buyers are increasingly wading into the housing market as mortgage rates continue to slip and home prices wane, according to a new report from Redfin.
Redfin's seasonally-adjusted demand measure was still down by 24% on a year-over-year basis, but it's outpacing dwindling supply, which is slowing sales.
According to Redfin's latest real estate market report, the total market value for U.S. homes dropped $2.3 trillion from June to December 2022 — the largest six-month drop since the Great Recession.