Slowing Down of the Market?

Question

I have some investors tell me they are seeing a slow down in the market and that it's not as "hot" anymore. All I see, is it went from an "unbelievable sellers market" to a still "very good sellers market". I'm curious as to what others are seeing and if they think they are seeing a slow down in the market?

Owen Dashner · Answer

My local market in Omaha is similar to the comments above - the desirable areas and homes are still selling over asking with multiple offers right away.  Homes that are in fringy areas are sitting a bit and offers are coming in under asking price.  This could be a bit seasonal too - back to school time always slows down compared to spring/summer months.  It will likely cool down a little more as we get closer to the holidays.

Cody Neumann · Answer

@Jacob Maes

I'm with you on the market from going to insane to very good. We are still getting multiple offers on some houses in Wisconsin with a slight increase in inventory and days on market.

Marcus Auerbach · Answer

Yes, slowing down... from 140mph to 120mph!

The market feels "healthier" - was very much needed! The exuberance is gone. We got four AO's this week, 2 buyers 2 sellers, and 2 at list price and 2 over. All 4 had multiple offers. We have seen a couple offers BELOW asking! wow ;-)

Jesse Rivera · Answer

Same in California. Still great. It's all supply and demand. And low interest rates. Too many buyers, not enough homes. Will be like this for another 5 years, in my opinion.

Michael Ablan · Answer

@Jacob Maes -  Our market has slowed, but good inventory is still moving.   The only difference is that people aren't buying EVERYTHING.   Crap houses, in crap locations are finally rotting on the market (as they should)

Scott Schultz · Answer

Im actually seeing days on market  (vs no days on market)  and price reductions on a few properties, it is changing, My neighbor is a mortgage lender, she said the past month has been "normal" where as the past 1-1.5 years has been nuts.

Bruce Woodruff · Answer

I see it going from completely crazy to a little crazy. And I would expect it to down that road. Next up is just plain crazy to be followed by normal....then below normal and crazy low. You see my point.... :-)

Slowing Down of the Market?

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