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More homes sell for less than asking price
MIAMI – Dec. 13, 2018 – According to the National Knock Deals Forecast, uses data for both predictive and historical analyses from ATTOM Data Solutions, the percent of home sellers who eventually sold for less-than-asking price in 2018 was about 2 in 3 (62 percent).
Of those homes that sold for less than asking price, six out of 10 are in the South, with Miami at No. 1, followed by New Orleans and Chicago.
As home values rise more slowly, Knock predicts that the trend of lower sale prices will continue into 2019, when 77 percent of on-the-market listings will sell for less than asking price, and half of the "top 10 markets for deals" will be in the South.
"Knock has developed six predictive algorithms to determine how much our Home Trade-in customers' homes will sell for and when," says Sean Black, co-founder and CEO of Knock. "By applying these algorithms … we hope to help more home buyers find and act on the best deals, and increase overall market fluidity."
Knock analyzed on-market listings in the largest U.S. MSAs to determine the markets with the highest percentage of homes predicted to sell below their original list prices, what Knock defines as a "deal." In November, ... more

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