I think the bubble is popping.

[Anonymous]

Not a bubble, but the Fed will likely taper its purchasing of MBSs soon, mortgage rates will increase, and we'll see a deceleration in home prices.

[Anonymous]

Anonymous wrote:7 houses in my neighborhood for sale, most pushing the 3-4 week mark now. A month ago, they were selling in 24-48 hours. I bought in May 2020 after stalking this neighborhood for 3 years. It’s been interesting to watch.

Where?

[Anonymous]

Totally slowing in Vienna.

[Anonymous]

Saw house last week with the offers due Thursday. My agent told me if we wanted it wed have to waive everything and go over asking. I declined. Still active today so ..

[Anonymous]

House in Olney just sold for 50k more. But most are sitting in the market way longer

[Anonymous]

Definitely slowing. We are looking now and have an offer in. There were zero other offers. No paying above ask price. They even took the deal with an appraisal and inspection contingency in place. Seeing a ton more inventory come to market as well and building up. The window to get peak prices has probably closed now. Everything is getting back to normal.

Once the Fed stops buying MBS and interest rates rise, it'll significantly cool the market down like the PP was saying.

[Anonymous]

Townhouses in Fredericksburg is going way above the asking still.

[Anonymous]

We've been looking for a 2-3 bedroom in DC or a close-in suburb and can say that this is NOT our recent experience. Still tons of offers, everyone is waiving everything, still fighting for half-decent houses, etc etc.

I don't think condos are comparable at all.

[Anonymous]

Anonymous wrote:House in Olney just sold for 50k more. But most are sitting in the market way longer

Ditto for overpriced home in Brookeville, but they are worried about it appraising.

[Anonymous]

Anonymous wrote:Rates to stay low until 2023

Why do you think this?

[Anonymous]

The paying above ask is a stupid metric. Let’s say three homes on block last year sold 550k, 600k, $610k all three originally priced at $500k.

I price my home $630k and sell $610k. Is that a sign of a slowing market?

[Anonymous]

Anonymous wrote:The paying above ask is a stupid metric. Let’s say three homes on block last year sold 550k, 600k, $610k all three originally priced at $500k.

I price my home $630k and sell $610k. Is that a sign of a slowing market?

It is if there is only one offer

[Anonymous]

The problem is that number of offers are now less but prices are still high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:House in Olney just sold for 50k more. But most are sitting in the market way longer

Ditto for overpriced home in Brookeville, but they are worried about it appraising.

As they should be. Noticed that many just sold houses are having a Zillow or redfin estimate negative 50- 300K from the sale price!

[Anonymous]

Anonymous wrote:

Anonymous wrote:The paying above ask is a stupid metric. Let’s say three homes on block last year sold 550k, 600k, $610k all three originally priced at $500k.

I price my home $630k and sell $610k. Is that a sign of a slowing market?

It is if there is only one offer

Lol, NP but that is so arbitrary