It appears the bubble of people buying real estate is declining. This according to Industry leader Mike Ferry who has been tracking real estate sales nationwide for 30+ years.
So what can sellers expect over next 6 months? It is expected that inventory will increase, days on the market will go up as well which can have a strong negative effect on home values flattening out. The record number of offers on listings have also declined over last two months. Another indication of a flattening market is the increase in expired listings. These are all indications of declining market in the next quarter. We will continue to monitor the market to stay on top of these changes.
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