Redfin has just released an extensive analysis of the percent of listings with price drops. According to their research:
“In October 31.3 percent of homes for sale had at least one price drop of more than 1 percent. This is the highest share of price drops on record since Redfin began tracking this metric in 2010, and 6.3 percentage points above last October’s level of 25 percent.”
This information suggests cooling in the market, though there are some silver linings in the report. We recommend you check out this data-driven look at trends in inventory and year-over-year price growth, as well as a number of insights about how sellers have been somewhat slow to react to changes in the market.
Are you seeing what Redfin is seeing? See if you’re on the same page here:
https://www.redfin.com/blog/2018/11/real-estate-market-tracker-october-2018.html
