Home Prices Fell in February for First Time in 11 Years (soft paywall)

[hegemony]

 

 

Home Prices Fell in February for First Time in 11 Years (soft paywall)

[hdporter]

We're just 3 weeks away from a move, with listing in 2-4 weeks.  I'm stunned and delighted that Redfin/Zillow have our average estimate on par with a year ago, despite the hike in interest rates.

 

Even more satisfying is that those estimates have moved significantly toward their mean, with just a $10k difference now vs $80k difference a year ago.  The recent agreement in these estimates, plus feedback from our realtor strongly suggest we should be able to list $25k higher than our current target, with a reasonable expectation of multiple offers.

 

This is at stark odds of the price depression I had anticipated when the Fed made clear that rates would be hiked significantly.  (fwiw, the last two months have been particularly kind, with a 10%/5% (respectively) climb in estimates.)

[hegemony]

we're thinking about selling one of our properties. I'll be curious to see how your sale goes.