Home prices begin to cool as active listings jump 35%

Some of the heat is coming out of home prices, even though they're still higher than they were a year ago. For the first time since the start of the Covid-19 pandemic, when home sales ground to a halt, the typical home sold for slightly less than its asking price — 0.3% lower — during the four weeks ended June 23, according to real estate brokerage Redfin. A year ago at that time the typical home was selling at list price. Two years ago it was selling at about 2% above list price. Mortgage rates remain stub ...