Is market softening? How does your local market look?

[Joanne Tsai]

Hey all,

There have been a few articles on CNBC talking about new home sales plunged 25% in recent months (YoY) and also today there is an article talking about existing home sales also seem to trend down comparing to a year ago.

What’s the temperature in your local market? Is it still hot or do you find more negotiation room? And what is your forward strategy?

Thanks!

[Steve K.]

@Joanne Tsai we’re only seeing 6-10 offers on every listing, down from 20 a few months ago. Properties are only selling for $75k over ask, not $200k. So I wouldn’t call it softening, per se, but maybe just slightly less hard.