Sellers are preparing to Liquidate. Home Prices will decline for rest of 2023.

Selling Real Estate
Sellers on the US Housing Market are cutting the price once again in 2023, with new data from showing that the Median List Price dropped in July.

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This drop in list price is likely the first of many price cuts to come for homebuyers over the rest of 2023, as homebuyer demand in the Housing Market is absolutely tanking right now, with mortgage applications plummeting to the lowest level in 28 years.

I believe many people got tricked into thinking the Housing Market was “recovering” due to prices going up in the spring. But this recovery was simply normal seasonality. And now that we’re shifting to the late summer and fall, prices will drop as they normally due.

Particularly across states like Texas, Tennessee, and Florida – these are the real estate markets where sellers are cutting the price the most, to go along with the biggest increases in inventory and days on the market.

We could also see a liquidation come from real estate investors, many of whom purchased at high prices and low yields during the pandemic.


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