Why Are There So Many Price Adjustments?

What’s happening in our housing market? There have been a lot of price adjustments recently, but why is that?

When the market was appreciating at a crazy rate, many sellers listed their homes at a high price because they expected values to continue increasing. After interest rates rose and buyers took a step back, many of these sellers have needed to adjust their pricing strategies. 

However, after the initial surge of price reductions, things have calmed down. Our market still has low supply and high demand, so we aren’t heading for a crash any time soon. You may only receive three or five offers for your house instead of 30, but you can still secure a great deal if you work with a good agent. 

Please call or email me if you have any questions about this topic. I’d love to discuss things further with you!