More than $330 billion worth of listings have been sitting on the market for 60 days or longer. Rising inventory and slow homebuying demand is pushing up the total dollar amount of home listings, and will push down home-sale prices by the end of the year.
deleted by creator
I will say, in my area I’m seeing so many homes with $20,000+ price cuts. Homes that have been on the market for months are now almost $100k lower than they were originally listed for.
There’s a ton of sales, but the average listing last year was $470k and that’s now down to $370k
The tract homes are staying high, because they were budgeted at that selling price, but homes just being sold are selling at much more reasonable prices and I don’t know how long DR Horton can hold on…
i’m seeing a shit load of 50k / 100k price cuts and they’re still waaaaay overpriced
Oh agree, most of the $370k ones are still like 2 beds and 1500sqft. But it’s going that direction at least.
Yeah… we saw a house that was $1.4 million and had the washer/dryer in the garage but wasn’t plumbed. And there was no way to get into the garage from the house, you had to walk outside, go around the front and open the actual garage door to get in. $1.4 million and you can’t even do your own laundry. And worse… someone is buying it… sale is now pending.
Is this Cali?
you know it
It’s not even seller’s market, it’s straight up definition of speculation profiteering