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Even as home prices hit new highs, experts say there are signs that the housing market is becoming better for buyers in some locations. The median cost of an existing, single-family home in the U.S. was $426,900 in June, a new all-time high, according to the National Association of Realtors. About 3.89 million homes were sold in June, a 5.4% decrease from May, NAR found. While mortgage rates have declined from their May peak, borrowing costs remain expensive for buyers. The average 30-year fixed rate mortgage in the U.S. nudged up to 6.78% from 6.77% on Thursday, according to Freddie Mac data via the Federal Reserve.

Despite those headwinds, some indicators show the housing market is shifting away from a seller's market. That doesn't mean it's a buyer's market — yet: "The term buyer's market is always a bit tricky to work with," said Chen Zhao, the economic research lead at Redfin, an online real estate brokerage firm. There are "rules of thumb" to define a buyer's market, like having more than four months of supply, she said. "The market is certainly tilting more towards buyers, I would say maybe it's coming more into balance," said Zhao. "Things are better, but they're not great yet." Orphe Divounguy, a senior economist at Zillow, agreed. "We're still nationwide somewhat in a seller's market, not a buyer's market yet," he said. "However there's good news for buyers on the horizon."

4 signs of 'a more neutral market'

There's still an affordability challenge at large. But those buyers who can certainly afford to purchase, they're "realizing the pendulum is swinging back slightly in their favor," said Divounguy. "Things are moving towards a more neutral market," he said. Here are four signs that can help you recognize if the housing market in your area is more in buyers' favor: 1. Homes are lingering on the market longer As homes sit on the market for longer, buyers might have an opportunity to get a property for under its listed price, Daryl Fairweather, chief economist at Redfin, previously told CNBC. About 64.7% of homes that were on the market in June have been listed for at least 30 days, up from 59.6% from a year ago, according to Redfin. Homes are sitting on the market for slightly longer because mortgage rates and prices are still generally high for buyers. More from Personal Finance:

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