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Message
re: New Single Family homes listed for sale hits highest level since 2008
Posted on 4/24/24 at 3:04 pm to StayStrapped
Posted on 4/24/24 at 3:04 pm to StayStrapped
quote:
Yet prices still aren't declining
They are slightly but not as much as they should be IMO.
High rates, high inventory, they should be plummeting.
3
Posted on 4/24/24 at 3:08 pm to rintintin
quote:
High rates, high inventory, they should be plummeting.
Homes for sale is still below pre covid levels.
Posted on 4/24/24 at 3:09 pm to rintintin
quote:
They are slightly but not as much as they should be IMO.
High rates, high inventory, they should be plummeting.
Variety of factors for this
We don't have a lot of people that have to sell yet. Selling is optional so many are not as motivated to lower prices.
A lot of people who bought at the peak aren't ready to accept losses so they are holding on.
People need all of the equity they can get to afford their next purchase so they are holding on.
There hasn't been a catalyst to cause price drops like in 2009
Posted on 4/24/24 at 3:09 pm to rintintin
I dunno. I live in South Dakota and it's nuts. Builders can't keep up
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