I'm now seeing houses on the market for 3 to 4 weeks, which is a lot different than it's been here the last year or two.

I don’t know. Seasonally this is a pretty normal event. My sister sold her house in California for over a million and is looking to move to Florida around our area. So I’m constantly going to houses that interest her with her realtor. Houses priced “well” or in good areas are still moving pretty well. What I’m personally seeing is that people have read the newspaper and think their house is actually made of gold and price accordingly. Those houses aren’t selling fast and I’m seeing reductions to still ridiculous prices.

So to recap, my opinion, seasonal slowdown combined with a combination of outrageous pricing meeting reality is what you might be seeing.

My sister keeps putting in offers on these slower moving properties because she still thinks they are over priced. She’s not wrong. I’ve also witnessed the “nicer” houses or more high end locations still selling in days. Even in December.

Nobody wants to move or deal with the home buying process this time of year. To get me to drop everything now and buy a house, the price would have to be almost too good to be true.

I've been noticing that too, more homes are taking longer to sell and some listings are even posting "reduced" in the ads. I kinda thought this little brick ranch would sell in a 2-3 weeks but it's been almost 2 months now.
https://www.zillow.com/homedet...26525/53200267_zpid/

i know many don't want to hear it. And
"it isn't case in my neighborhood" effect.

But the housing market is way overpriced. There may be a house of cards time coming and many are not ready for it. So we'll see.

Real estate sales are seasonal and typically drops off pretty significantly this time of year. We typically don't even recommend looking or listing this close to the holidays.

Doesn't mean that the market isn't cooling off, just means that some of the effect you are seeing should also be attributable to seasonal shift.

Not around here. Houses are in short supply and I get 2-3 real estate agents/week knocking on the door wanting to list/buy mine.

quote:

Originally posted by old rugged cross:
There may be a house of cards time coming...

Maybe I'll actually be able to move out to the country

In my area of AZ we got lucky. Up to about 4-5 months ago, houses would sell within hours or a couple days often for 20-30k over asking

We decided to buy ( was a quick decision after the homeowner of our long term rental informed us he was selling and we had a hair over 60 days to find a new place to live) we found houses in prime neighborhoods that started to stay on market longer and sell at or below asking.
We ended up finding a nice house only 5 years old with lots of top shelf upgrades meticulously maintained and offered 5k below asking which was accepted.

3-4 days in my Town in rural NH. 5% + over asking price.

Tempted to sell and downsize - but where the hell do you go?