Posted on 06/05/2022 5:16:45 PM PDT by blam
I’m starting to see a shift in the market in suburban Taxachusetts. Higher median DOM, more price cuts - things appear to be softening.
Maybe the higher interest rates are actually cooling things down?
Joe Biden = Murphy’s Law
In reality the extremely low interest rates until recently enabled many more buyers in each price range to qualify for the available homes. Competing offers resulted in bidding wars, driving prices higher.
Rising interest rates have knocked many buyers out of their desired range, so fewer multiple offers are being submitted. Prices will not moderate as quickly as they escalated.
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