Sellers took a step back from the housing market in August in response to slow demand from cash-strapped home shoppers and new listings fell to a record low, according to the latest market report from Zillow®.

Buyers still in the market have plenty of opportunity , especially in areas seeing inventory hold strong. But competitive momentum that has been swinging fast in buyers’ favor in recent months is showing signs of stopping nationwide.

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“Buyers who can afford a home and have been waiting for the right moment should look closely at what’s available now,” said Zillow Senior Economist Kara Ng. “Options are on the shelves, even if they’re not all fresh. Sidelined buyers should revisit their budget; mort

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