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In the words of Mark Twain, “Facts are a stubborn thing, but statistics are pliable.”
Throughout this year, as we’ve seen the real estate market cool down, there have been many shocking headlines on the state of the real estate market. It seems many of these headlines are used as clickbait to get people to click on the article. Once the article is read, what is being reported is often not as shocking as the headline makes it seem. Here are a few useful graphs that illustrate where the real estate market is today:
Total Days on the Market:
Pending Sales:
Original List Price:
What do these graphs represent? Change has happened! However, the change has been slight up to this point. Homes are still selling even though its taking slightly longer. Buyers can expect to pay about the same but they will get more buyer friendly terms on the sale than in 2021.
Have any questions? As always, feel free to reach out!
