The article highlights that home price reductions do not always reflect actual sales below market value; some agents list homes high to gauge interest. An increase in homes receiving price cuts signals an advantageous shift for buyers, while a decrease indicates seller dominance. Data reflects a change in supply-demand equilibrium in the housing market since late spring 2022 due to rising mortgage rates. There are varying conditions in different regions, with some areas remaining competitive for sellers and others becoming favorable for buyers.
A price cut on a home listing doesn't always mean it sold for less; agents may use high starting prices to gauge market interest and create room for negotiation.
An increase in price cuts beyond seasonal norms suggests buyers have gained leverage, while a decrease indicates sellers are still in control of the market.
Collection
[
|
...
]