Real estate agents say the housing market is starting to balance out: CNBC Housing Market Survey

Summary

Diana Olick reviews the second CNBC quarterly housing market survey, which shows real estate agents shifted from seeing a buyer's market in Q3 to a more balanced market in Q4. Surveyed agents reported more price cuts and pulled listings, but nearly 65% expect sales to improve in the coming quarter as inventory rises and consumers adjust to economic conditions. Mortgage rates remained rangebound between 6.2% and 6.4% in Q4. The discussion frames housing as no longer a seller's market, with seasonality playing a limited role in the survey.

• CNBC's second quarterly housing market survey compares Q4 with Q3.
• Real estate agents increasingly describe the market as balanced rather than a buyer's market.
• Average 30-year fixed mortgage rate stayed between 6.2% and 6.4% in Q4.
• More agents reported seller price cuts and pulled listings versus Q3.
• About 65% of agents expect sales to improve in the coming quarter.
• Consumers are less confident due to job losses and cost-of-living/insurance pressures.
• Agents say seasonality is less important than quarter-to-quarter mindset changes.
• The market is no longer characterized as a seller's market.