Hey everyone,
I’ve been looking into the housing market lately and noticed something interesting. It seems like a lot of people trying to sell their homes are starting to lower their asking prices. I’m wondering if this is because mortgage rates are still pretty high.
Has anyone else noticed this trend? Are sellers in your area dropping prices too? I’d love to hear your thoughts on why this might be happening and if you think it’ll continue.
Also, do you think this could be a good time for buyers to jump in, or should they wait to see if prices fall even more?
Let me know what you’re seeing in your local market!
I’ve seen that too, Sophia29. It sounds like sellers might be testing the market. Has anyone noticed this trend in specific neighborhoods? Could it hint at broader changes? I’m really curious where this might lead.
yep, noticing that in my area too. sellers seem desperate, slashing prices left n right. but its still pricy AF cuz of those crazy mortgage rates. might be good for cash buyers, but us regular folks? meh, still outta reach imo.
From what I’ve observed in my local market, there’s definitely a shift happening. Property owners are starting to feel the pressure of those high mortgage rates. They’re realizing that potential buyers are struggling with affordability, so they’re adjusting their expectations.
I’ve seen a few cases where homes have been on the market for months, and sellers have reluctantly dropped their prices. It’s not a dramatic freefall, but rather a gradual adjustment. This trend might continue if rates stay high, but it’s hard to predict with certainty.
For buyers, it’s a bit of a double-edged sword. Lower prices are appealing, but those high interest rates still make monthly payments steep. It’s a tough call whether to buy now or wait. Personally, I’d advise careful consideration of one’s financial situation before making any moves.