- Sep 8, 2014
- 25,449
- 59,476
Housing boom is over as new home sales fall to pandemic low
I have no clue and find it hard to extrapolate on one month's numbers, but I have noticed listings of existing homes (I know this was a new homes #) are taking more than 5 minutes to sell now. Perhaps this is the start of my 10-15 year prediction on a low, slow stair step down in prices. time will tell.
No offers yet here in Virginia....realtor thinks we should hold off on dropping the price (we've been on the market for 11 days). I'm not sweating it yet, but there's several houses around me that I've noticed still sitting. We're barely getting any showings (did another open house Sunday and only 6 groups visited) - we've probably had just over 20 groups/families look at it since it listed. The market has DEFINITELY cooled off here.