This is Why Sales are Slow & Likely to Stay That Way for a Long Time

[Tim Hicks (Texas)]

Lots of homeowners are oblivious to current market conditions and are simply not lowering their prices. Many of them have plenty of equity at a lower price, but they have envisioned what their home is worth and will not accept the inevitable.

 

[Fernando]

Lots of homeowners are oblivious to current market conditions and are simply not lowering their prices. Many of them have plenty of equity at a lower price, but they have envisioned what their home is worth and will not accept the inevitable.

Can't blame them. They expect their home values to keep up with inflation at least.

 

[Fernando]

Many posts ago I mentioned about this house I appraised in 2022. It was on market last year for long time and couldn't sell near my appraised value.
I hate to appraise lower than what market value is today.
I checked sales history today and I'm happy.
House finally closed few weeks ago 3% above my appraised value.
It appears market is stable.

 

[Terrel L. Shields]

They expect their home values to keep up with inflation at least.

Everything returns to the mean. and Covid created a bump that either has to come down or flat over a long period until the line crosses again.

 

[Fernando]

Everything returns to the mean. and Covid created a bump that either has to come down or flat over a long period until the line crosses again.

Prices appear to be stable but didn't keep up with inflation. My appraised home value went down from 2022.

 

[Bobby Bucks]

I got a mailing that had my correct mortgage information and offered me an FHA no doc refi. The terms were laughable, I have 7-years left on a 2% mortgage, and they offered to give me $60K cash! with my 'same monthly payments' and only extend the term 23-years at 5.7% interest rate. That's a pretty expensive $60K. I'll pass.

I’ve got 11 years left on a 2% mortgage and my childhood buddy mortgage broker calls occasionally and gives me a Zillow guesstimate to see if I’m ready to refi.

 

[Terrel L. Shields]

I’ve got 11 years left on a 2% mortgage

I hang on for dear life for that one. I've been debt free for 10 years, however. And short of some sort of disaster, I hope never to borrow a dime ever again. I bought my last car cash even.

 

[Mark K]

I bought my last car cash even.

I would have but they offered me 0.9%. I'd be crazy not to take it since my other investments have yielded around 10% for the past 30 years.

 

[Joe Flacco]

The real estate market is seasonal and analysis and discussion of real estate data always needs to be in seasonal terms. That means yoy comparisons.

 

[J Grant]

I

The real estate market is seasonal and analysis and discussion of real estate data always needs to be in seasonal terms. That means yoy comparisons.

That is not what FF says but go do your own outlier thing