Is the spring market over?

[Anonymous]

I realize there are exceptions, but pretty much the only people selling right now are those who absolutely have to move (because of job relocations, divorce, etc.). During the boom times, people were selling simply because they could. Now the worry isn't so much that they won't be able to sell -- well-priced homes in desirable, close-in neighborhoods are still selling quickly -- but rather it's that they won't be able to find anything that they can afford to buy. And so we get the current low-inventory situation.

[Anonymous]

Unfortunately yes. At least it feels like way in Maryland. Inventory is super dry.

[Anonymous]

Anonymous wrote:I realize there are exceptions, but pretty much the only people selling right now are those who absolutely have to move (because of job relocations, divorce, etc.). During the boom times, people were selling simply because they could. Now the worry isn't so much that they won't be able to sell -- well-priced homes in desirable, close-in neighborhoods are still selling quickly -- but rather it's that they won't be able to find anything that they can afford to buy. And so we get the current low-inventory situation.

We are house hunting right now. You're partially correct -- but the vast majority of people selling right now are old people moving into retirement homes and people who inherited their dead parents' houses and are trying to make as much money as possible off of them. Maybe 5% are state department families/people moving for work/etc.

[Anonymous]

Nobody is listing their houses because those people have nowhere to move to.

[Anonymous]

OP we are looking as well and it’s pretty grim out there. So few options. Wishing you best of luck.

[Anonymous]

https://www.realtor.com/realestateandhomes-detail/5950-Wilton-Rd_Alexandria_VA_22310_M65840-53762

[Anonymous]

In my very hot and desirable zip code, it seems to be calming down. Latest sales not nearly as high as I was expecting after seeing early spring prices. Kind of wish we had waited. We thought we were priced out and brought elsewhere.

[Anonymous]

We sold and bought a few weeks ago (closing soon) and there are still houses for sale in my neighborhood (close in but maybe not as desirable) and they are surprisingly not under contract yet. We went under contract in 3 days. Same for the house we are buying which currently has no houses for sale nearby. Though the ones near us have location faults (near apartments).

[Anonymous]

All over but the crying.

[Anonymous]

I’ll be listing this summer in Bethesda, if that makes anyone feel encouraged!

[Anonymous]

Anonymous wrote:We sold and bought a few weeks ago (closing soon) and there are still houses for sale in my neighborhood (close in but maybe not as desirable) and they are surprisingly not under contract yet. We went under contract in 3 days. Same for the house we are buying which currently has no houses for sale nearby. Though the ones near us have location faults (near apartments).

Springfield? There are a ton of houses for sale in Springfield.

[Anonymous]

There are all of two houses under $1 Million in our entire zip code and they are both tear downs waiting to happen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We sold and bought a few weeks ago (closing soon) and there are still houses for sale in my neighborhood (close in but maybe not as desirable) and they are surprisingly not under contract yet. We went under contract in 3 days. Same for the house we are buying which currently has no houses for sale nearby. Though the ones near us have location faults (near apartments).

Springfield? There are a ton of houses for sale in Springfield.

There are currently 6 active SFH in WSHS pyramid under $1.25m.

[Anonymous]

Yes. It's over.