Thursday, September 5, 2013

View from the Street: Equilibrium Returns to the Real Estate Market

If you drive around Montgomery County these days, you will see something area residents have not seen in a while:  "For Sale" signs, and a lot more of them.  Whereas a few months ago, For Sale signs would go up and down in a heartbeat as homes quickly sold, often above the list price, now the signs remain up as houses sit on the market longer.  This is good news for those buyers who were priced out of the market in the Spring and Summer, and not so good for sellers who were expecting to receive full list price offers and who again have to deal with a changing market.  I'm sure the "Price Reduced" signs for those homes still on the market are not far behind.