Inflation Going Down?
According to Realtor.com, total inventory of homes remains 16% lower than pre-pandemic numbers, and nearly half of home buyers struggle to find what they want in a home; however, UMB projects we are entering a buyer’s market as price reductions are happening across the market and inventory is slowly starting to increase. We are starting to see sellers become creative with their listings to sell them.
Prices are not coming down quickly in any area of the economy, from housing to everyday grocery items. Things are expensive right now; however, many financial analysts believe that inflation is slowly coming down.
