We are seeing a lot of the same thing in Fresno -were seeing an average of 60 price reductions a day here with about 70 new listings each day. Just a few months ago - there were only about 40 price reductions a day and still an average of 70 new listings per day - so the price reductions are on the rise.. homes are sitting longer and investors are snubbing their nose at deals. Out of state is starting look more attractive....
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Yeah, more and more of that in 2018. The 10-year ticking above 3 percent is only going to add to the pressure as now John and Jane Doe can afford a little less house.
It's all relative as well, people in Cali and Denver are looking at Florida as cheap and I'm looking up in SC being in South Florida.