Sellers Are Trying To Get Yesterday’s Prices
Sellers Are Trying To Get Yesterday’s Prices
Abstract
' What happened next? Prices began dropping, she said. Price cuts are becoming more common especially when properties sit on the market for more than a week, Shalev said. 'I think sellers that were on the fence for a while, definitely they see that as prices come down, they don't want to miss the boat,' he said. "Prices on new construction homes are actually falling. The median sales price of a new construction home dropped to $402,400 in June, down from $444,500 in May, according to the US Census Bureau and the Department of Housing and Urban Development. 'This is the biggest crack yet in home-price inflation,' said Robert Frick, corporate economist at Navy Federal Credit Union. 'If existing home prices follow suit, we may finally see a break in annual increases that have priced millions of Americans out of the housing market.'" Bay Area Newsgroup in California. 'We're seeing more price reductions because people were pricing it like there was less quality. The more homes that come on the market, the more supply, which automatically drives down the price. They're listing their properties trying to get yesterday's prices and they're staying on for long periods of time,' said Dan Campanella, a broker with Keller Williams Advantage Realty, who represented Tebb." The Globe and Mail.