5% of Home Sellers Reduce Asking Prices in Recent Weeks

1. For Immediate Release Summary: Up to 5% of home sellers have reduced their asking prices of their properties in the past few weeks. 5% of Home Sellers Reduce Asking Prices in Recent Weeks August 23, 2021 The demand for homes is easing slowly, which has resulted in a number of sellers having to adjust their asking prices accordingly. Over the past few weeks, it’s been revealed that up to 5% of sellers have had to reduce pricing on their properties so that their homes have a chance of being sold as quickly as possible. Although pricing is being reduced on several homes, average home prices are continuing to rise overall because of the fact the general demand for properties remains quite high – making it an ideal seller’s market. However, sellers who have overpriced their properties have quickly learned that this tactic will not work at the moment. Chief Economist at Redfin, Daryl Fairweather, stated in this regard, “The housing market is less hectic than it was in early spring, but it’s still far from typical. The move to a less imbalanced market is happening slowly. As we approach the beginning of back-to-school season, home prices typically cool, supply winds down, and homes take longer to sell. All that’shappening, just very slowly. I don’t think the housing market will return to a fully typical state anytime soon, but we are starting to trend in that direction.” The median sale price of homes has increased by 17% year on year to just under $362,000, which is a record high, with asking prices of newly listed properties increasing by around 10% from the same time last year. New listings of properties for sale have also increased by approximately 3% from this time last year. Property owners who are serious about selling need to ensure that their homes have been thoroughly deep cleaned and appropriately staged prior to putting them on show. Realtors recommend that all items such as family photographs, personal care items in bathrooms and clutter be completely cleared away, as this will allow potential buyers to envision their own personal touches in and around the property – resulting in a stronger chance of it selling. It’s also strongly recommended that sellers enlist the help of a professional realtor, as this will help ensure that the sale process can be finalized as efficiently as possible. Existing real estate investors and anyone else who is keen to get into the property market and would like to learn more about how to go about can do so here: https://ccm-finance.com/ About the Company: CCM Finance is a Minneapolis-based company that specializes in assisting individuals and landlords who want to invest in properties by providing the required loans for them to do this. Employees can also provide real estate investors with valuable advice pertaining to purchasing and selling properties. The company is situated at 7801 E. Bush Lake Road, Suite 430, Minneapolis and can be contacted by calling (612)-254-0025, emailing info@ccm- finance.com or completing the website contact form. ###