How can it be neutral when there's so many price drops and lots of inventory? Most homes are staying on the market for over 60 days. Buckle up the market is changing!
The price drops are sellers pricing too high. If you look at what that house sold for when it last sold to what it’s selling for now, it appreciated. There looks to be more inventory but that’s not the case. There are less homes hitting the market, they are just taking about 30-45 days longer to sell. When you look at days on market pre Covid to today, it’s about the same. When you look at the average sale price 24 months ago to today, there is a 1K increase. It’s easy to think we are not in a neutral market when you look at surface level information. In what way do you think the market is changing?
That’s odd. I’ll copy and paste The price drops are sellers pricing too high. If you look at what that house sold for when it last sold to what it's selling for now, it appreciated. There looks to be more inventory but that's not the case. There are less homes hitting the market, they are just taking about 30-45 days longer to sell. When you look at days on market pre Covid to today, it's about the same. When you look at the average sale price 24 months ago to today, there is a 1K increase. It's easy to think we are not in a neutral market when you look at surface level information. In what way do you think the market is changing?
How can it be neutral when there's so many price drops and lots of inventory? Most homes are staying on the market for over 60 days. Buckle up the market is changing!
The price drops are sellers pricing too high. If you look at what that house sold for when it last sold to what it’s selling for now, it appreciated.
There looks to be more inventory but that’s not the case. There are less homes hitting the market, they are just taking about 30-45 days longer to sell.
When you look at days on market pre Covid to today, it’s about the same.
When you look at the average sale price 24 months ago to today, there is a 1K increase. It’s easy to think we are not in a neutral market when you look at surface level information.
In what way do you think the market is changing?
Ben, your reply is not showing for sone reason, I would really like to see your comment. But I see Whitney likes my comment.
That’s odd. I’ll copy and paste
The price drops are sellers pricing too high. If you look at what that house sold for when it last sold to what it's selling for now, it appreciated.
There looks to be more inventory but that's not the case. There are less homes hitting the market, they are just taking about 30-45 days longer to sell.
When you look at days on market pre Covid to today, it's about the same.
When you look at the average sale price 24 months ago to today, there is a 1K increase. It's easy to think we are not in a neutral market when you look at surface level information.
In what way do you think the market is changing?