USA Buyers Gain More Market Power

Current existing-home sales beat estimates, with activity ↑~2% MoM but ↓~2% yearly, showing better-than-expected closings even as the broader pace stayed below year-earlier levels.
The sales snapshot likely lagged current borrowing costs, and the outlook pointed to some further market softening ahead, though the shift was described as manageable.
Current US housing inventory stands at 1.6M homes, still below the 2M to 2.5M range seen as a more traditional supply level.
Even so, inventory has recovered from extreme lows, price growth has slowed, wages are outpacing home-price growth, and buyers now have more leverage.
The market was described as healthy between buyers and sellers, with a gradual return toward normal conditions expected into 2027 and beyond.