Overreaching Sellers (& Their Side Effects)

The big story in the housing market so far this year has been (lack of) inventory.

As previously discussed on reach2this blog, that has resulted — at least in the lower price rungs dominated by first-time Buyers — in multiple offers, upward price pressure, and lots of frayed Buyers (and Buyer’s agents).

Less remarked:  a spike in expired listings and price reductions.

While I don’t have statistics backing me up, at least anecdotally that appears to be the case.

The explanation:  would-be Sellers encouraged by news of an appreciating housing market are overreaching.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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