Buyers are very optimistic that home prices will increase in the next 5 and 10 years as per the following from Realtor.com. Does this optimism correspond to our market? The short answer is yes but there is more to the story. While prices have continued to rise, homes are staying on the market for a longer period of time. In the past two months, we’ve seen more sellers that have reduced their prices because of this fact. Sellers had been expecting a short close with multiple offers and this has tapered off. However, we are still seeing multiple offers for some homes but on a more selective basis.
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