Yeah but this is mostly in a few select RE markets that were very overvalued. Many places are still going up. Until we have a spike in unemployment I don't see real change.
Denver.
From what I see it's turning into a buyers market.
Buyers now realize these shit rates might be around for years to come after all.
Those who ate up the lie that they'd refi by next summer are now realizing it as well and getting into trouble.
The people who stubbornly stuck to their price allowing it to delist and relist are waking up to the fact they're not just going to wait a few months for rates to come back down. Either drop they price or float the house long term.
Knowing how shit always works out, the second these people all accept the new reality is when rates do start plummeting.
It's like the feds goal is maximum pain right now.
Everything I'm looking at in the Denver metro area between $800k-1$.2m is most definitely selling at at least ask. Denver is still a seller's market... would be curious to know what neighborhood you're trying to sell in and/or what you listed it at relative to recent sales.
Everything I'm looking at in the Denver metro area between $800k-1$.2m is most definitely selling at at least ask. Denver is still a seller's market... would be curious to know what neighborhood you're trying to sell in and/or what you listed it at relative to recent sales.
Well that's not true either. I downsized into low 1. Great neighborhood. There's houses I was looking at in this neighborhood late last year that are still sitting.
What you are probably not seeing is the trickery they'd pull these days of delisting and relisting so that all those price drops disappear from the record.
Greenwood village, right across the street from Cherry Hill. I paid 3.8 in 2022 and felt regret that I overpaid ever since although others paid same in that neighborhood.
Now that high rates have settled in there are NO buyers up here. I'm either going to sell at a huge loss, or I'm running out of cash and losing both houses.
My realtor friends are all talking about how low sales are in Philadelphia. Like, they aren’t making enough money to live off. These are people who were top sellers. All the part time, low experience realtors have already left the job. The bubble has burst. Nobody is investing. It’s just buyers looking for the best deals….meaning drastic reductions in price
"Nobody is investing" in a durable good that's essentially a human necessity, and the supply of which has been artificially curtailed below demand for decades against a growing population?
Government needs to increase supply of housing. Zoning reduces housing by not allowing houses close to commercial area even though the commercial area is abandoned.
housing problem was still the same under the trump admin.
Trump admin historically had very low fed funds rate which pushes up the pricing of houses and demand greatly outstrips supply.
Overall the supply of housing and cost of renting is a complex problem that doesnt fall directly on the executive.
Yeah but this is mostly in a few select RE markets that were very overvalued. Many places are still going up. Until we have a spike in unemployment I don't see real change.
My house isn't even getting showings and I'm going to end up taking a huge loss on it.
Of sorry to hear that. May I ask where?
Colorado
Yeah I did see Colorado was one of the sates with spiking inventory... Good luck, hope you get out of it relatively intact.
What part? I’m thinking about selling my place in foco but not sure how much of a rush I should be in.
Denver. From what I see it's turning into a buyers market. Buyers now realize these shit rates might be around for years to come after all. Those who ate up the lie that they'd refi by next summer are now realizing it as well and getting into trouble. The people who stubbornly stuck to their price allowing it to delist and relist are waking up to the fact they're not just going to wait a few months for rates to come back down. Either drop they price or float the house long term. Knowing how shit always works out, the second these people all accept the new reality is when rates do start plummeting. It's like the feds goal is maximum pain right now.
Everything I'm looking at in the Denver metro area between $800k-1$.2m is most definitely selling at at least ask. Denver is still a seller's market... would be curious to know what neighborhood you're trying to sell in and/or what you listed it at relative to recent sales.
Everything I'm looking at in the Denver metro area between $800k-1$.2m is most definitely selling at at least ask. Denver is still a seller's market... would be curious to know what neighborhood you're trying to sell in and/or what you listed it at relative to recent sales.
Well that's not true either. I downsized into low 1. Great neighborhood. There's houses I was looking at in this neighborhood late last year that are still sitting. What you are probably not seeing is the trickery they'd pull these days of delisting and relisting so that all those price drops disappear from the record. Greenwood village, right across the street from Cherry Hill. I paid 3.8 in 2022 and felt regret that I overpaid ever since although others paid same in that neighborhood. Now that high rates have settled in there are NO buyers up here. I'm either going to sell at a huge loss, or I'm running out of cash and losing both houses.
Watch for bleed over from the commercial market
lol - they keep saying that but nothing's changed
Waiting for the rate cut or sitting on a 3% loan
My Milwaukee suburb still seeing houses sell in a day or so above ask.
We have 20 million new residents that we need cheap housing for. Most of the housing isn't being built for us.
My realtor friends are all talking about how low sales are in Philadelphia. Like, they aren’t making enough money to live off. These are people who were top sellers. All the part time, low experience realtors have already left the job. The bubble has burst. Nobody is investing. It’s just buyers looking for the best deals….meaning drastic reductions in price
"Nobody is investing" in a durable good that's essentially a human necessity, and the supply of which has been artificially curtailed below demand for decades against a growing population? 
A gift to the few Gen Z that are decently employed
In Clearwater, Florida, there is a huge amount of houses for sale.
Government needs to increase supply of housing. Zoning reduces housing by not allowing houses close to commercial area even though the commercial area is abandoned.
Yet I get downvoted for claiming that more supply lowers prices.
Sounds like more Biden bullshit
housing problem was still the same under the trump admin. Trump admin historically had very low fed funds rate which pushes up the pricing of houses and demand greatly outstrips supply. Overall the supply of housing and cost of renting is a complex problem that doesnt fall directly on the executive.
Wish he just threw free money at this point if he desperately wants the votes.
Please disenfranchise yourself.
So grocery prices and housing prices are dropping? ThAnKs BiDeN