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A growing number of home buyers scratch their heads. Despite the homes sitting on the market for weeks or even months, prices remain heavenly high.
In a recent post on r/realestate subreddit, one reddit user Summed it up Like this: “In a Lot of Places, the Home prices themselves have Double Sints, and when you Factor in In In In In In In In In In As Much Money in the Long Run.
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In many parts of the country, homeowners still hope to make money in the pandemic housing boom – even if their expectations are outdated. As a commentator said, “it seems that many people sell they purchased in 2022-2023, so they paid a premium and try to cope even, including the cost of closing.”
The result is opposition: overestimated lists that sit unsold while sellers are waiting for offers that never come. “People list a $ 100,000 house more than they bought it in 2022 after they did nothing at the house,” one man noted. “Then you are watching the price reductions fall under what they paid for it at the top.”
Many homeowners have a mortgage rate of less than 4% and are reluctant to give up this for a new home with a 7% interest rate. “If I sold my own house to myself, it would cost me as a $ 100,000,” one man writes. Another added: “We will not be able to sell for many years because our house has not appreciated at all, and the prices are higher now.”
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Even those who want to move are not necessarily desperate. “The sellers I know are not greedy or deluded. They just can’t move if the price falls much further, so they are ready to stay in the home for a long time,” one commentator explained.
Buyers, on the other hand, are exhausted. After going around dozens of homes with high prices and misleading lists, they are adjusted. “As a buyer outside the city who has been in a million houses with dishonest photos, I put those houses that sit forever with multiple prices in my bucket of low priority,” a buyer said.