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| Get my pies outta the oven!  |
I have been seeing houses around here sitting and not getting a "SOLD" sign on them in a few days or less like it's been for a while. Is this the beginning of the end of the housing boom? Of course this is highly localized so what I'm seeing may not be the case where you live.  Zerohedge: US New Home Sales Crashed In March | ||
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Member |
Not in my neighborhood. Hedley Lamarr: Wait, wait, wait. I'm unarmed. Bart: Alright, we'll settle this like men, with our fists. Hedley Lamarr: Sorry, I just remembered . . . I am armed. | |||
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Fighting the good fight |
I've noticed the same. There are several houses near me who have had For Sale signs up for a couple weeks, with multiple open houses, but no contracts pending. Including my neighbor. For the past 2 years, those would have been gobbled up within the first day or so of being on the market. In fact, my neighbor's house that's now for sale sold like that just last year. Now they're trying to flip it less than a year later for a $60k profit. Seems like they missed their window... | |||
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Member |
Interest rates making a jump didn't help. Our house has been on the market for about 3 weeks (2.5 weeks longer than the most recent 3-4 sales) 23 showings & 2 open houses & we just got our first offer last night. Had we listed a week earlier, we likely would've sold a lot quicker. We listed the same week interest rates topped 5% The Enemy's gate is down. | |||
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Alienator |
It just means that inventory is starting to catch up to demand. Combine that with interest rates that tripled in the last 2 months, its pretty much expected. SIG556 Classic P220 Carry SAS Gen 2 SAO SP2022 9mm German Triple Serial P938 SAS P365 FDE Psalm 118:24 "This is the day which the Lord hath made; we will rejoice and be glad in it" | |||
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| Member |
I've seen a few that have been absurdly priced, even in this market, sit for a long time, but most stuff around me is still going fast (like less than 24 hours). ____________________ I Like Guns and stuff | |||
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Drill Here, Drill Now |
The last few years the for sale sign was going in the ground with "sold" already on it. Recently, I've been seeing for rent and for sale signs stay up many, many weeks. Ego is the anesthesia that deadens the pain of stupidity DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. | |||
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Raptorman |
They tripled in cost in just a few months because the investment groups were paying absurd cash offers. ____________________________ Eeewwww, don't touch it! Here, poke at it with this stick. | |||
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| A teetotaling beer aficionado  |
They are still selling pretty quickly in our neighborhood if they are priced right and have the amenities people are looking for. Redfin says 14 days to sale on average, with houses bringing on average 6% over asking price. I can see this waning as interest rates climb. Men fight for liberty and win it with hard knocks. Their children, brought up easy, let it slip away again, poor fools. And their grandchildren are once more slaves. -D.H. Lawrence | |||
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| Member |
Still selling quickly here. Two existing homes in my neighborhood (no new construction in neighborhood) sold recently in less than two days on the market, one for $75K over asking price and the other for $100K over asking. | |||
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Enjoy Computer Living |
Not around here. My friend just closed the sale of his house within one week of listing for $600K over asking. The current situation is absolutely nuts. -Loungechair | |||
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Member |
That's only a piece of it. Everything is converging to bring this to an end. Inflation, shortages, increasing fuel costs, increasing interest rates, a new domestic or international crisis daily, people are getting very uncomfortable and see bad times coming. The only thing still propping most of this up is government's out of control spending, which coincidentally is also making inflation and the economy worse. This was always going to reach an end, but government has made and continues to make things far worse when that end eventually arrives. ----------------------------- Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter | |||
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| Member |
Not here in BHM. If a house stays on the market for 48 hours its either way overpriced or needs a lot of work. | |||
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| St. Vitus Dance Instructor  |
Not in my neighborhood, they go fast. | |||
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| Member |
Our house is getting listed next week, hoping we haven’t missed anything… | |||
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His Royal Hiney |
PASig, more importantly, how do you rate zerohedge as a financial news source? How long have you been reading them? That chart looks national rather than local. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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| Get my pies outta the oven! |
Why am I being cross examined here? Yes, that’s why the article said “US” and not “local” | |||
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| His Royal Hiney |
I am questioning you because I'm interested in accessing credible sources of financial news. I assumed you have some familiarity with zerohedge and didn't come across it googling for a housing chart, did you? The reason I am interested is because I decided I'm quitting my money manager and just do broad market index funds and avoid the management fees. It wasn't wasn't personal about you. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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semi-reformed sailor |
5 for sale w/I a mile of me. They’ve been on the market for over a month. Couple of months ago, the sign would have been taken down the next day. Everything was selling for crazy prices. Two months ago my commie neighbors house sold for 100,000 over what they paid for . So, yeah, I think that bubble is about to pop. "Violence, naked force, has settled more issues in history than has any other factor.” Robert A. Heinlein “You may beat me, but you will never win.” sigmonkey-2020 “A single round of buckshot to the torso almost always results in an immediate change of behavior.” Chris Baker | |||
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| 186,000 miles per second. It's the law. |
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