Feels like market is hitting a wall

[Anonymous]

Inventory not moving for decently priced homes in Upper NW… concerning for sure but maybe just a hiccup and back to “normal”.

What do you all think?

[Anonymous]

It's August. It's always slow now.

[Anonymous]

The market is running out of suckers, so yes prices are hitting a wall.

[Anonymous]

Yes I’m getting this vibe. I am not in the market and not paying that close attention. But I have noticed some houses sitting when 2 weeks ago (still the summer market), they went under contract right away.

[Anonymous]

Interest rates starting to take their toll exactly as the fed wants.

[Anonymous]

Crime scaring away buyers?

[Anonymous]

In my exurb, 600k houses are selling fast, 4-500k townhouses are mixed, and 7-800k houses are sitting. So There’s still a strong demand for a sweet spot, but outside of that stuff is sitting.

[Anonymous]

Anonymous wrote:It's August. It's always slow now.

+1. There's no demand now that the before school summer shuffle is over. I would not be surprised to see a lull through the end of the year until next year's spring market, with more robust demand.

[Anonymous]

There's no inventory. People with 2-4 percent rates are not gonna sell and take on an 8 percent rate mortgage unless they absolutely have to, and the rates are scaring away potential first-time buyers (unless they are rich enough to pay cash). The market is essentially frozen.

[Anonymous]

Anonymous wrote:In my exurb, 600k houses are selling fast, 4-500k townhouses are mixed, and 7-800k houses are sitting. So There’s still a strong demand for a sweet spot, but outside of that stuff is sitting.

Nobody in their right mind would pay $800,000 to live in an exurb. Plenty of other options closer in at that price.

[Anonymous]

Someone posts this exact same thing every August.

[Anonymous]

Anonymous wrote:Someone posts this exact same thing every August.

This is different "slow" means low # of listings and low # of buyers what we are seeing now is lots of listings and not a lot of offers.

[Anonymous]

There was only one 550-650k house in my sfh neighborhood for sale this year. It was snapped up, and we live in a poor school district. There aren't many houses available at affordable prices for most people.

[Anonymous]

High prices + high interest rates + low inventory are finally starting to take their toll. There’s only so much stretching and compromising most people are willing to do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Someone posts this exact same thing every August.

This is different "slow" means low # of listings and low # of buyers what we are seeing now is lots of listings and not a lot of offers.

There most certainly are not "lots of listings."