Our Zillow rep told us yesterday that searches for new homes are down 25% from recent months, as buyers appear to be “fatigued” and are putting their searches on hold.
Despite that fact, the market remains extraordinarily hot and we continue to see appraisals come in under contract price all too often.
This should not be surprising, as buyers continue to bid over the list price and the list prices themselves are often now higher than any of the nearby closed comparable sale prices.
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To learn more about the topics discussed in this blog or get more info about JVM's mortgage services, contact our team by phone at (855) 855-4491 or email us at jvmteam@jvmlending.com
