What I’m am actually seeing and hearing, is most everyone in America that were not forced to sell, are now taking their homes off the market.
3 in my immediate area alone in the past 2 months. Was told they just did not re-list, and will wait for better times in the future. Was told this is a big trend right now.
Can’t say I blame them.
To a certain extent, we’ve reached a saturation point. Those folks who weren’t interested in selling and are happy where they are simply stayed put.
Those folks who wanted to upgrade have done so.
It’s unrealistic to think that you can entice somebody into buying and moving when they haven’t even unpacked the boxes from the last move.
Give it a break! Jeesh!
We’ve been seeing homes come on and off the market in our neighborhood for over a decade now and there is a big difference this year. Most of the homes that go off the market just, well, go off the market. No sold sign or anything. Those that are still on the market, with one exception ALL have “new price” signs up and some have for over a month, yet not a one has sold.
One of them is an older lady who’s husband has gone to a nursing home.
Meanwhile, as late as last year the homes in my neighborhood would see only a couple of weeks go by before the sold sign came up. Now a LOT of homes are just rotting away with the “new price” sign.
Oh, and one new development has a “huge price reduction” banner up.
This is a “near Seattle” suburb where we have a “strong job market”.