Official LRC President Donald J Trump Thread

A Quarter of Homes Listed for Sale Are Dropping Prices

Redfin finds the market is changing and tilting more toward buyers.

Redfin reported Thursday that signs continue to point toward a changing market that's letting home buyers be more selective as supply constraints begin to ease in the hottest markets.

As a result, sellers are feeling compelled to adjust their expectations — and their prices. In the four weeks ending on September 16, 26.6% of homes listed for sale had a price drop, the highest level on record since Redfin began tracking this metric in 2010. Redfin defines a price drop as a listing price reduction of more than 1% and less than 50.

"After years of strong price growth and intense competition for homes, buyers are taking advantage of the market's easing pressure by being selective about which homes to offer on and how high to bid," said Taylor Marr, Redfin senior economist. "But there are some early signs of a softening market, and the increase in price drops may be another indicator that sellers are going to have trouble getting the prices, and the bidding wars, that they may have just months ago. Instead, many are finding their homes are sitting on the market without much interest until they start reducing their prices."

According to a Redfin analysis of all homes actively listed on the MLS for sale in the markets where Redfin operates during the four weeks ended September 16:

-- The share of home-sellers who dropped their price increased 4.8 percentage points from the same period a year earlier, when 21.7% of homes had a price drop.

-- The share of homes with price drops has been posting year-over-year gains consistently since late March.

-- Las Vegas (+12.3 points to 28.1%), San Jose (+10.7 pts to 25.7%), Seattle (+10.1 pts to 37.1%), and Atlanta (+9.0 pts to 27.9%) were among the markets that posted the biggest year-over-year increases in the share of homes with price drops.

-- The Redfin Housing Demand Index — a monthly indicator of home buyer demand that was flat for the third consecutive month in July — also suggests easing inventory is giving buyers more room to carefully consider their purchases.

"In a market where we're seeing more inventory, sellers may choose to use price reductions to continue to generate interest in their home for sale," said Jessie Culbert, a Redfin agent who works with sellers in Seattle. "Ultimately, the market dictates the appropriate price for any given home. We use data and on-the-ground insight to recommend the initial price, but sometimes we just need more exposure to the market, or more time to hear feedback, and then we'll work with our clients to adjust the price accordingly."

Took all of 5 seconds wrote:

Because you will not be able to figure out how to the read the link.

A Quarter of Homes Listed for Sale Are Dropping Prices

Redfin finds the market is changing and tilting more toward buyers.

Redfin reported Thursday that signs continue to point toward a changing market that's letting home buyers be more selective as supply constraints begin to ease in the hottest markets.

As a result, sellers are feeling compelled to adjust their expectations — and their prices. In the four weeks ending on September 16, 26.6% of homes listed for sale had a price drop, the highest level on record since Redfin began tracking this metric in 2010. Redfin defines a price drop as a listing price reduction of more than 1% and less than 50.

"After years of strong price growth and intense competition for homes, buyers are taking advantage of the market's easing pressure by being selective about which homes to offer on and how high to bid," said Taylor Marr, Redfin senior economist. "But there are some early signs of a softening market, and the increase in price drops may be another indicator that sellers are going to have trouble getting the prices, and the bidding wars, that they may have just months ago. Instead, many are finding their homes are sitting on the market without much interest until they start reducing their prices."

According to a Redfin analysis of all homes actively listed on the MLS for sale in the markets where Redfin operates during the four weeks ended September 16:

-- The share of home-sellers who dropped their price increased 4.8 percentage points from the same period a year earlier, when 21.7% of homes had a price drop.

-- The share of homes with price drops has been posting year-over-year gains consistently since late March.

-- Las Vegas (+12.3 points to 28.1%), San Jose (+10.7 pts to 25.7%), Seattle (+10.1 pts to 37.1%), and Atlanta (+9.0 pts to 27.9%) were among the markets that posted the biggest year-over-year increases in the share of homes with price drops.

-- The Redfin Housing Demand Index — a monthly indicator of home buyer demand that was flat for the third consecutive month in July — also suggests easing inventory is giving buyers more room to carefully consider their purchases.

"In a market where we're seeing more inventory, sellers may choose to use price reductions to continue to generate interest in their home for sale," said Jessie Culbert, a Redfin agent who works with sellers in Seattle. "Ultimately, the market dictates the appropriate price for any given home. We use data and on-the-ground insight to recommend the initial price, but sometimes we just need more exposure to the market, or more time to hear feedback, and then we'll work with our clients to adjust the price accordingly."

Wbat the What? wrote:

Hey, I appreciate the link. I also appreciate the gratuitous insult. Must have made you feel like a big man. Good for you!

Of course, I appreciate most of all your being so considerate as to cut and paste from your link since obviously I "(would) not be able to figure out how to the read the link." You should certainly be commended for your heroic efforts here on my behalf and I am forever in your debt.

So, I recognize your superior efforts here already and hesitate to ask for even more but I "(am) not able to figure out how to" find the 5 - 10% average price drop that you claimed earlier within the text that you so kindly posted for me. Would you be so kind as to show me which paragraph that you just posted claims the 5 - 10% price drop? Even better, which sentence?

Thank you. As I said, I am forever in your debt for you sharing such brilliance so freely. I look forward to learning just how your words above can be decoded to back up your claim.

Took all of 5 seconds wrote:

Wbat the What? wrote:

Hey, I appreciate the link. I also appreciate the gratuitous insult. Must have made you feel like a big man. Good for you!

Of course, I appreciate most of all your being so considerate as to cut and paste from your link since obviously I "(would) not be able to figure out how to the read the link." You should certainly be commended for your heroic efforts here on my behalf and I am forever in your debt.

So, I recognize your superior efforts here already and hesitate to ask for even more but I "(am) not able to figure out how to" find the 5 - 10% average price drop that you claimed earlier within the text that you so kindly posted for me. Would you be so kind as to show me which paragraph that you just posted claims the 5 - 10% price drop? Even better, which sentence?

Thank you. As I said, I am forever in your debt for you sharing such brilliance so freely. I look forward to learning just how your words above can be decoded to back up your claim.

You have some kind of mental problems. The website I posted a link to requires registration.

Do try to try to troll better next time.