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Archive: https://archive.today/cwfWw

From the post:

>The once red-hot US housing market is undergoing a dramatic reversal — and for the first time in years it's buyers who hold the upper hand. Nearly 2 million homes are for sale across the country, but only about 1.5 million active homebuyers are looking. That 500,000 gap marks the largest imbalance ever recorded, according to the real estate firm Redfin. At the same time the total value of homes on the market has hit a record-shattering $698 billion, up more than 20 percent from this time last year.

Archive: https://archive.today/cwfWw From the post: >>The once red-hot US housing market is undergoing a dramatic reversal — and for the first time in years it's buyers who hold the upper hand. Nearly 2 million homes are for sale across the country, but only about 1.5 million active homebuyers are looking. That 500,000 gap marks the largest imbalance ever recorded, according to the real estate firm Redfin. At the same time the total value of homes on the market has hit a record-shattering $698 billion, up more than 20 percent from this time last year.

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[–] • 2 pts (edited )

I wish I could just make shit up and get paid for it like this.

This is definitely not true in my area. Houses still get 5-6 offers immediately upon listing. The only ones that stick around long enough to even look at have major issues or should just be torn down.

And the prices are still sky high.

[–] • 1 pt

I am looking in a area where prices are listed easily $50-100k above what they really sell for and even then they probably are not quite worth that. The market is starting to get bloated with inventory and few buyers due to crazy expectations for sellers and the crap interest rates.

I nearly bought something this year already (still looking) but backed out for various reasons. Even then, the offer was $100k below what the asking price was.