Charted: Less competition for Midwest homebuyers

A shrinking share of Midwest homes are getting multiple offers, per the latest from real estate research group John Burns.

Why it matters: Less competition is a good thing for the few buyers still looking. House hunters can take their time and may be able to negotiate with sellers.

The big picture: Just a few years ago, homes were getting dozens of over-asking offers.

• Now the market is quieter as most prospective buyers wait for mortgage rates to come down further.

Yes, but: Inventory is still an issue, and agents across the U.S. say well-priced, turnkey homes are going fast.

Bottom line: There are some silver linings in this challenging market.