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Reply to "I think the bubble is popping."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]Housing Market Update: Pending Sales Dip, Price Drops Becoming More Common[/b] [url]https://www.redfin.com/news/housing-market-update-price-drops-over-4pct/[/url][/quote] Wow is that headline misleading when you look at the data in the report. I mean, it seems clear that some of the edge is being taken off the frenzy. But when median home sales prices are up 21% (!!) year over year, it doesn't take much. Price drops are up... to 4%, still well below 2019 levels. I think Redfin has realized that the people who go around trumpeting that real estate is going to crash any second no matter the fundamentals are also the people most susceptible to clickbait.[/quote] The point is not that it is "crashing". The point is that the frenzy is over. Now comes the hangover...and what happens from now on, remains to be seen.[/quote]
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