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flag U.S. housing market shifts to favor buyers as sellers lower prices amid economic uncertainty.

flag The U.S. housing market is becoming more buyer-friendly due to a shortage of homebuyers and economic uncertainty. flag Sellers in the South and West are lowering prices and offering more concessions like up-front money for lower mortgage rates and closing costs to attract buyers. flag Despite a slight rise in the national median home listing price in July, some cities saw declines. flag Sales of previously owned homes are down 1.3% from last year, and homeownership rates have dropped for the first time in nearly a decade.

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