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The Real Estate Market Has Slowed For 2 Reasons That May Surprise You
The market has slowed, but it doesn't FEEL like it has slowed for buyers or sellers.  That's because supply and demand have kept pace with the market.
Here is what I mean.
Fewer first time buyers are entering the market.  So fewer first time buyer home are selling.  The folks who want to sell what were their first homes and plow their equity into their move up homes are waiting longer for a sale.
Other first time sellers are cashing in on the outrageously expensive rental market.  They are keeping their first homes, renting them out, and buying their move up with a low down payment home loan.
Flipping to the sellers side of the market.
There are fewer homes for sale than we typically see in November.  Especially move up homes in the $450,000 - $690,000 range for move up buyers.  So the market is pretty tight for buyers in the move up market.  Really nice homes are selling fast.

The move up market is kind to home sellers who have priced their homes AT the market.  Those sellers who have overpriced their homes to test the waters, or exclaiming, "Don't buyers make offers???" will find out the hard ... more

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