We comment on Realty Times website on market conditions. The two main questions are pricing trends and whether or not we see the market as a buyer or seller favored or somewhere in between. There is then a space for commentary.
There are 16 agents reporting and our consensus:
In my latest update, I state:
The market has shifted towards buyers but that doesn’t mean that buyers are finding what they are looking for at a discount over months past.
An overpriced house is overpriced in any market and it takes sellers some time to adjust their psyche as markets change. A year ago, we saw sellers wanting to counter full price offers. We saw them lose deals because of it. Now we see sellers that are still shooting for the starts and their properties languish on the market.
Note that this is the first time I have shifted from a neutral market to buyer’s. I think sellers have the ability to shift the market back in the favor but it won’t happen unless they shift their thinking first.