Prices dropping over the past month?

[Frank S.]

In my area (Buffalo, NY) , ive noticed properties aren't selling as fast and most arent getting multiple offers like they were during the summer/spring months. Is this simply a normal cycle that happens after summer is over, or is there something more here?

[Patricia Steiner]

In Tampa Bay, our prices are increasing rapidly.  It's actually the norm that there will be multiple offers, all over list price, cash purchases are common - and "good bones" sell within a day.  It's absolutely nuts.  We were already in a hot seller's market with historically low inventory before Covid but Covid brought us a wild influx of buyers from "pandemic hot spots" who are looking for that "staycation" in anticipation of the next round of shutdowns.

Who'da thunk this?!!!