With the low inventory challenges still lingering, we have been experiencing high price increases and contracts within hours. It sounds great for sellers to maximize their home value but buyers are pushing limits on market value. Will the demand for paying top dollar cause a slowdown in the market or jeopardize the health of the economy? Some would argue that it cannot be sustained while others are searching for ways to create more inventory which would lessen the pressures on pricing.
We have noticed an increase of price reductions. It’s hard to say if the market is slowing down or if sellers were wrongly confident on pricing. In most market conditions, a home priced right and in good condition will sell.