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LOL, I had the wrong link for my own listing in last week's email...#fail. Oh well, we got into contract after one weekend.
Another week brings more evidence that homeowners just aren't selling as national inventory ticked down again throwing off last week's slight uptick. Buyer applications did tick up again, and I personally saw that proof at my new listing. In four days, we had over 40 private showings, and in two weekend days we had probably 20 more groups of buyers come through the open house. Buyers have been very active in the price range between 350-500k.
I've said it before, but most homeowners do not have an incentive to sell right now. I've seen a phrase thrown around recently calling it the "golden handcuffs". Essentially many homeowners, even as recently as 2021 have locked in rates less than 4%. Essentially handcuffing them to their current house and mortgage payment. As we know, the traditional buyer is also a seller, meaning that someone that wants to buy a new home, needs to sell their current one. In most cases, the current sellers we are seeing are life event sellers, which helps explain the relatively low volume of transactions.
Regardless, the buyers that do want to buy are out in force. And, the sellers that want to sell are getting them sold.
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