{"id":106711,"date":"2025-10-07T12:34:10","date_gmt":"2025-10-07T12:34:10","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/106711\/"},"modified":"2025-10-07T12:34:10","modified_gmt":"2025-10-07T12:34:10","slug":"heres-why-the-housing-slowdown-isnt-lowering-home-prices","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/106711\/","title":{"rendered":"Here\u2019s why the housing slowdown isn\u2019t lowering home prices"},"content":{"rendered":"

\n Yasmin Asberry thought selling her home in a Dallas suburb would be simple. Instead, after months of little interest, she dropped the price twice and was on the verge of pulling the listing when she finally got an offer she liked.\n <\/p>\n

\n \u201cWhen we first listed it, we were under the impression that people were still excited to buy homes and that they were getting snapped up pretty quickly,\u201d she said. \u201cBut we didn\u2019t get very many hits.\u201d\n <\/p>\n

\n Asberry\u2019s experience reflects a housing market caught in a stalemate.\n <\/p>\n

\n Just a few years out from the pandemic-era housing boom, the market is stumbling. Many homeowners, anchored to pandemic-era expectations even as the housing market tilts in favor of buyers, would rather pull their listings or let deals fall through than cut asking prices too far or agree to costly concessions. Buyers, meanwhile, are now increasingly willing to walk away.\n <\/p>\n

\n The result: Sales are stalling, while home prices keep climbing.\n <\/p>\n

\n In September, 80% of markets saw price increases, the highest share in nine months, led by cities in the Northeast and Midwest, according to data released Monday by financial services company Intercontinental Exchange.\n <\/p>\n

\n Borrowing costs play a role. Millions of Americans secured ultra-low pandemic-era mortgage rates, which they don\u2019t want to exchange for current, higher rates, said Daryl Fairweather, chief economist at Redfin.\n <\/p>\n

\n \u201cFor sellers, their option besides selling their home is to stay in their home with really cheap mortgages,\u201d Fairweather said. \u201cA lot of sellers who aren\u2019t getting the prices they were hoping for are choosing to delist their homes, or they\u2019re just keeping their homes on the market for a really long time, hoping that the market changes or a buyer comes along who is willing to pay the high price.\u201d\n <\/p>\n

\n \u201cThat strategy doesn\u2019t really work, because buyers are facing these high mortgage rates, and they increasingly can\u2019t afford to pay both high prices and high rates,\u201d she added.\n <\/p>\n

\n After recognizing how slow the market had become, Asberry compromised. She initially listed her home in a Dallas suburb for $400,000, based on comparable homes in her area. After adding new furniture and retaking her listing photos, she dropped the price to $385,000 \u2014 and then again to $365,000 \u2014 before she finally received an offer.\n <\/p>\n

\n \u201cThat was it,\u201d Asberry said. \u201cWe would have just gone off the market if they didn\u2019t agree to $365,000,\u201d adding that she would have planned to relist her <\/strong>home in the spring with the hope of a more favorable market.\n <\/p>\n

\n Recent housing market data points to a \u201cdisconnect\u201d between home buyers and sellers, Fairweather said.\n <\/p>\n

\n More listings were pulled off the US market this summer than last, according to Redfin data. In fact, delistings have been higher all year compared to last year.\n <\/p>\n

\"Purchase-agreement<\/p>\n

\n Angie Guillette, a southwest Florida real estate agent, said sellers who are more willing to slash their list price are the ones making the sales lately.\n <\/p>\n

\n \u201cWe have quite a few sellers who, when they\u2019re not getting the number they had in their head \u2014 sometimes it\u2019s a number they saw during the pandemic \u2014 will take their home off the market, and they will wait,\u201d Guillette said.\n <\/p>\n

\n These sellers would rather leave the market than lower their prices, which helps keep overall prices elevated, she added.\n <\/p>\n

\n The mismatched expectations cut both ways. A Redfin report released Tuesday found that home buyers are canceling deals at a record rate. About 56,000 US home-purchase agreements were canceled in August, or around 15% of homes that went under contract that month. That\u2019s the highest August rate on record, according to the report.\n <\/p>\n

\n Inspections are where many deals collapse. More buyers are pushing for sellers to cover repairs or additional concessions, and sellers are refusing, according to the report.\n <\/p>\n

\n Heather Anschuetz, a real estate agent in Hendersonville, Tennessee, said she has noticed that buyers are now more willing to walk away.\n <\/p>\n

\n \u201cThere\u2019s so much on the market they can choose from now,\u201d she said. \u201c(And) a lot of buyers are much more hesitant to take on more than they can handle, especially if their budget is kind of maxed out at their monthly mortgage payment anyways.\u201d\n <\/p>\n

\n Asberry said she had to cut her Dallas-area home\u2019s price more than she wanted, but she negotiated with the buyers so she wouldn\u2019t have to pay for any additional repairs.\n <\/p>\n

\n Still, the price cut meant the proceeds from her sale didn\u2019t fully cover her move to Washington state.\n <\/p>\n

\n \u201cWe had to use credit for the moving costs. That was like $15,000, which is almost as much as we had to lower our asking price again by the time we got the offer,\u201d she said.\n <\/p>\n

\n Anschuetz said she often sees sellers willing to negotiate on price but not on repairs \u2014 or vice versa.\n <\/p>\n

\n \u201cEven though my sellers are ready to sell, they\u2019re ready to sell at a reasonable price,\u201d she said. \u201cIt\u2019s not a fire sale. They\u2019re not just going to give it to anybody that wants it.\u201d\n <\/p>\n","protected":false},"excerpt":{"rendered":"Yasmin Asberry thought selling her home in a Dallas suburb would be simple. Instead, after months of little…\n","protected":false},"author":2,"featured_media":106712,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-106711","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/106711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=106711"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/106711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/106712"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=106711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=106711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=106711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}