Home prices are still sky-high, but competition isn’t as fierce, as the frenzied housing market slowly rebalances

(Credit: Getty Images)

After years of frenzy, the housing world is cooling off. 

“Home listings are piling up as buyers step back from peak home shopping season faster than normal,” Zillow’s chief economist, Skylar Olsen, wrote in a monthly report published yesterday. “As competition cools, sellers are stepping up price cuts to try and entice buyers struggling with affordability.”