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Housing expert: Buyers 'have the upper hand'
Yahoo Money
Housing expert: Buyers 'have the upper hand'
Ronda Lee
Wed, August 31, 2022 at 10:31 AM
As the housing market cools and returns to pre-pandemic norms, sellers — once in the driver’s seat — now have to readjust.
A new Realtor.com survey found that 92% of sellers accepted some buyer-friendly terms and 41% accepted some contingencies in the contract. This is a stark contrast to the bidding wars and contingency waivers last year and earlier this year.
“We're seeing a shift from a seller's market to a buyer's market for at least a few months and now is the time where buyers can actually ask for more,” Krystle Moore, CEO of Pacific Shore Capital, told Yahoo Finance Live (video above). “We're not having to ask for no contingencies or going over list. We're not seeing those things happening anymore, so buyers definitely do have the upper hand.”
A return to normal means that sellers won’t be receiving multiple offers and that homes in need of repair won’t sell as high.
{snip}
Housing expert: Buyers 'have the upper hand'
Ronda Lee
Wed, August 31, 2022 at 10:31 AM
As the housing market cools and returns to pre-pandemic norms, sellers — once in the driver’s seat — now have to readjust.
A new Realtor.com survey found that 92% of sellers accepted some buyer-friendly terms and 41% accepted some contingencies in the contract. This is a stark contrast to the bidding wars and contingency waivers last year and earlier this year.
“We're seeing a shift from a seller's market to a buyer's market for at least a few months and now is the time where buyers can actually ask for more,” Krystle Moore, CEO of Pacific Shore Capital, told Yahoo Finance Live (video above). “We're not having to ask for no contingencies or going over list. We're not seeing those things happening anymore, so buyers definitely do have the upper hand.”
A return to normal means that sellers won’t be receiving multiple offers and that homes in need of repair won’t sell as high.
{snip}