Folks who sold this year or plan to sell, why didn’t you list last year, for example, but waited until the number of listed homes doubled this summer? Just curious what are the fundamentals of such listings increase and who are the folks who continue to contribute to that now. Why not HODL and send the prices to the moon?
If someone bought the house 40 years ago for 40k, then whether he sells it for 700k or 650k does not matter to him. They would rather sell it , take the profit, and live like a king for the rest of the life.
Not sure how that answers my question on why would someone list exactly when there’s a ton of other listings, instead of wait for another inventory shortage.
Because they would rather sell it at 10% drop from peak and not wait till 50% drop from peak. It’s simple, rise in interest rates means that buyers won’t be able to pay more even if they wish to. So the buying capacity is only decreasing with time. If someone can afford to buy 800k house this year , then next year they will afford 750k house, and the year after 700k house. Also sellers near retirement have no reason to hold another 5 years as they don’t know when life ends. Would you rather wait a few years like a miser or live the remaining like a king ?
What a dumb post. Everyone I know who is selling right now is doing it because they have to (i.e. family reasons, job relocation, etc). If everyone had the foresight that you’re making fun of, we’d all be rich.
This is like asking, why did you sell stock last year when you could have sold it this year? Not many current homeowners want to give up their 3% interest rates to buy a new home.
Right, so they should hodl and pay that cheap mortgage instead of selling. Although, I’m more curious why such a sudden inventory peak, ie. why everyone decided to sell in 2018, but not earlier, for example? Perhaps it has to do with raising interest rates indeed, and sellers are just afraid buyers won’t afford their homes at all soon.
Op, perhaps ppl arent buying?
The people who sold their homes aren’t here.
Watch NASDAQ take the hits , watch interest rates rise, and then watch the obvious.
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