Small investors are making up a larger share of home purchases this year and signs of a more balanced market could mean an opening for the average consumer.

"So that inventory over the last three and a half years has jumped up into now we have real inventory," said Jeff Lichtenstein, owner of Echo Fine Properties in South Florida. "So you have a lot of people right now who are selling — whether it's land or homes — who are willing to deal."

While inventory is rising, home prices and mortgage rates remain high, keeping many prospective first-time buyers on the sidelines.

"All you can do is save, save, save, and even then it might not be enough," one prospective home buyer said.

ADDITIONAL REPORTING | Home sales are having their worst summer in a decade as some buyers back out

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