Almost one-third of last month's buyers paid over the list price.....for the fourth month in a row! Either sellers are being smart about pricing attractively, or a fair amount of the buyers and buyer-agents haven't gotten the memo about the tougher market conditions....
Our head cheerleader is back at it. He is predicting that sales and pricing will increase this year, which is optimistic: Here are the local YoY comparisons: It's been a miracle that sales and pricing this year have kept up with the 2024 numbers. Any Fed rate cuts are...
Last week I thought inventory might have peaked for the year? The dip from the previous week was all from high-end listings, some of which are now being refreshed and coming back on as new listings. Even though the lower-end inventory is rising steadily, at least the...
Here's an example of how home sellers can get jammed up by lower sales in the surrounding area and the market turning. During the frenzy, any lower-priced sales nearby were shrugged off by the anxious buyers who just wanted to get any house at any price. Not now. Our...
View this post on Instagram A post shared by Klinge Realty Group @ Compass (@klingerealtygroup)
Nykia Wright, the CEO of the National Association of Realtors, said this week that she expects a $32 million drop in revenue next year. The NAR agent fee is $156 per year, so she must expect 205,128 realtors to retire/quit by 2026 - which would be about 15% of the...
Compass agent Ben Faber started a discussion: JtR: If you find a halfway-decent home, it will probably be in the first seven days it’s been on the market. It’s when the listing agent goes into full defensive mode and all communication turns vague because they are so...
It's obvious this year that the market is tough and sellers aren't able to demand everything they want like before. It will probably cause more sellers to cancel sooner, and others to not try at all. The inventory count may hover around 500-ish for a couple of more...
The doomers might get excited about the cost-per-sf dropping by 3.1% and 2.6%, respectively, but because sales are holding up well, there isn't any panic. It's a healthy exercise of how pure/unsupported markets should work!
I wrote a purchase contract for a buyer this week. There were 41 pages. Let's add that to the list of hurdles for buyers in 2025. There are several search portals that display home listings publicly and free of charge. But it doesn't make it any easier to find a good...
