It's a tough time to be in the market for a new house. But as peak homebuying season begins, homebuyers are starting to have at least some negotiating power—especially in markets that recorded large price growth over the last few years.
The average 30-year, fixed-rate mortgage rose above 7% at the start of November 2022, the highest level in more than a decade, as the Federal Reserve raised its benchmark rates to combat inflation. Today, rates remain at historic highs; even half of a...