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this post was submitted on 02 Jun 2025
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Weird, so you’re telling me homes are more expensive than they’ve ever been, nobody can afford current mortgage rates, homeowners are letting their properties rot rather than lowering prices, and this somehow makes a buyer’s market? All I’ve been hearing from real estate professionals my whole life is that anything less than 6 months of inventory is considered a seller’s market. Redfin’s data says the US housing supply is currently at 3 months of inventory, and that’s the highest it’s been in the past 5 years.
I will say, in my area I'm seeing so many homes with $20,000+ price cuts. Homes that have been on the market for months are now almost $100k lower than they were originally listed for.
There's a ton of sales, but the average listing last year was $470k and that's now down to $370k
The tract homes are staying high, because they were budgeted at that selling price, but homes just being sold are selling at much more reasonable prices and I don't know how long DR Horton can hold on...
i'm seeing a shit load of 50k / 100k price cuts and they're still waaaaay overpriced
Oh agree, most of the $370k ones are still like 2 beds and 1500sqft. But it's going that direction at least.
Yeah.. we saw a house that was $1.4 million and had the washer/dryer in the garage but wasn't plumbed. And there was no way to get into the garage from the house, you had to walk outside, go around the front and open the actual garage door to get in. $1.4 million and you can't even do your own laundry. And worse... someone is buying it.. sale is now pending.
Is this Cali?
you know it