- Tom BrezsnyWhy Haven’t Prices Come Down Yet?
Continuing the conversation about mounting signs of a significant market shift: more active listings, longer days on market, fewer offers, more price reductions, tougher negotiations, longer escrows, more contingencies, and more properties falling out of escrow. Of course, that doesn’t apply to every listing. Select properties—well-priced, well-presented, in prime locations—are still selling quickly, sometimes with multiple offers and over asking. But increasingly, there are also listings that aren’t selling. Few experienced agents would deny that a substantial change is underway. One challenge is that many...