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Lots of the agents who post here are still touting stats from sales in the pipeline prior to the virus. As these stats catch up with the virus, we will see prices falling. And once they start to fall, they will slide until there is a vaccine. A year to 18 months.
Lots of the agents who post here are still touting stats from sales in the pipeline prior to the virus. As these stats catch up with the virus, we will see prices falling. And once they start to fall, they will slide until there is a vaccine. A year to 18 months.
I think we were already approaching some kind of dip or bubble burst prior to virus. Not as bad as 08 but locally they were getting higher than boom prices. And the trend came quick(2nd half last year). Some stats had declining sales late last year and early this year, not by much but enough. Some people had houses sit 6 months plus. I think investors will still buy but they have to be much more careful what they do and how much they spend(investors inflated sales here by shorting supply then renovating selling to other investors).
People are going to rethink how and how much they spend money for the foreseeable future. To me a lot of down payment money was taken out of the market. Also knew they were available but I saw a 84 month car payment promotion the other night. I can't believe that won't affect credit scores of many.
I imagine condos will be the first prices to fall....that and apartments and those communities with houses built right next to each other. I sold my condo just before all this started, and so glad I did, because now I have a SFH with a private yard and I'm not living on top of people, nor sharing hallways/outdoor space. I actually worry for my former neighbors.
Lots of the agents who post here are still touting stats from sales in the pipeline prior to the virus. As these stats catch up with the virus, we will see prices falling. And once they start to fall, they will slide until there is a vaccine. A year to 18 months.
Lots of the agents who post here are still touting stats from sales in the pipeline prior to the virus. As these stats catch up with the virus, we will see prices falling. And once they start to fall, they will slide until there is a vaccine. A year to 18 months.
Lots of agents? Gosh, I must have missed all of those posts.
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