A Cooler Seller's Market

In this article from The Washington Times, the author states that by the last day of August, more than 21,000 homes were still sitting on the market. Today's buyers will find more homes to choose from, so they can slow down a bit and think. Time to think had been a luxury buyers could not afford in this market, particularly in fast-moving communities. But the current sales climate will mean that prices should not jump as dramatically. The author has warned buyers to be sure to get a good assessment of a home's value from their real estate agent before they make an offer, because some sellers might be overpricing their homes on the assumption that prices are still rising as quickly as they were in the spring. [Chris Sicks, The Washington Times, September 23, 2005]