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Reply to "I think the bubble is popping."
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[quote=Anonymous][quote=Anonymous]Ok but what did that screenshot look like in say, February? Even when the market is very hot, a high percentage of houses on the market any given time will be the ones that have been on the market longer. The volume of houses that sell immediately may be high but the time that they spend on the MLS is much lower. Like, from a quick back of the envelope, even if 50% of houses go off the market within 1 week, and 50% stay on the market for one month, then actually 80% of the houses on the market at any given time will be the "one month" types, and 40% of the homes on the market will have been on the market for two weeks or more.[/quote] The question wasn't "What was happening in Feb...". The question was "Is the bubble popping...", I showed you data, interpret that how you will. The way "I" am interpreting it is...it is definitely slowing down, prices are being reduced "across the board", and houses are staying longer on the market. [/quote]
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