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"sellers Are In Denial, And There Is A Rising Disconnect With The Buyers,"

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Stuck! Homes sit longer on the market

It's taking longer to sell a house these days. Is this another sign that the boom is over?

By Les Christie, CNNMoney.com staff writer

June 27 2006: 5:28 PM EDT

NEW YORK (CNNMoney.com) --
The tell-tale sign of a stagnating real estate market? When homes for sale start lingering
- and that's exactly what real estate brokers and other industry watchers say they're seeing now.
The National Association of Realtors does not maintain national time-on-market figures. But inventory - the number of homes for sale - spiked 37 percent for the 12 months through April 30, the most recent data available.
"Sellers are in denial, and there is a rising disconnect with the buyers," said Jonathan Miller, a real estate appraiser in New York. "Until sellers get the message, you'll see a drop in the number of transactions."

When the commissions start drying up completely the EAs here will try to get the market moving by telling desperate sellers to drop prices to keep up with the new paradigm. :)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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