The prices home sellers are asking for and the prices homebuyers are paying haven't been this out of whack since the start of the pandemic. According to a new report from Redfin, the typical home for sale is listed for 9 percent more (or $38,672) than the typical home is selling for—the biggest gap since May 2020. Realtors warn this growing gap means many sellers will need to slash their asking prices if they want to close a deal.
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