[HN Gopher] Homes Are Taking Longer to Sell
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Homes Are Taking Longer to Sell
Author : latchkey
Score : 11 points
Date : 2022-07-24 21:31 UTC (1 hours ago)
(HTM) web link (www.redfin.com)
(TXT) w3m dump (www.redfin.com)
| theplumber wrote:
| The rents are not getting cheaper so I believe the sale prices
| won't go down either.
| jeffbee wrote:
| Yeah, no kidding. There is universal agreement among potential
| buyers that prices are too high and this is the worst moment in
| recorded American history to buy a home.
|
| https://data.sca.isr.umich.edu/get-chart.php?y=2022&m=6&n=42...
| rightbyte wrote:
| What is the context of the graph? I don't get it from the
| labels.
| jeffbee wrote:
| It's the fraction of survey respondents saying home prices
| are low, less the fraction saying prices are high. So 0 is a
| neutral market and it ranges over [-100,100].
|
| The whole survey is highly informative.
| https://data.sca.isr.umich.edu/
| dadoge wrote:
| Interest rates are the real cause IMO. Sadly, there are still a
| lot of rich people with money to burn on real estate, but the
| rates are now what is stopping them.
|
| Prices would still be going up and up if The Fed didn't jump in
| to hike rates.
| konschubert wrote:
| That's the point. Home prices are too high due to raised
| interest rates. They will come down to match the interest
| rates.
| ngetchell wrote:
| I have a coworker that decided to make an offer on a house but
| not make it contingent on selling their existing house. They are
| currently paying two mortgages and it seems like they'll sell
| their previous house for quite a bit less than what they
| expected.
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(page generated 2022-07-24 23:01 UTC)