The typical homes asking price has increased exponentially sense COVID.
Do you think a 2 percent drop in an asking price will affect sales in the upcoming sales market?
I think not, but let us wait and see.
That means it’s turning back into a buyers market, and IMO that’s a good thing.
Maybe the floodgates will open this spring, there’s still a lot of pent up demand out there. Lower interest rates would help too.
I think these are nationwide numbers. Demand is dropping in the sunbelt and parts of the coasts (markets that were hot pre-2020) because all of the money has woken up to the fact that the midwest was “underpriced.” I had a bunch of ex-landlord junk holes that I inspected for out-of-state clients last year. Midwest prices are still climbing (because of that stupid inflated money). Sigh.