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> In the 90s it was typical for a house to be on the market for 3-6 months before selling. Sellers generally received 1 offer. I wonder if there's been a mater
by jldugger 4y ago
> In the 90s it was typical for a house to be on the market for 3-6 months before selling. Sellers generally received 1 offer.
I wonder if there's been a material shift in who is making offers that won't revert to 90s behavior. Specifically, investment firms specializing in single family housing, who might have more incentives to make a lot of lowball offers and not worry too much whether they win or lose a specific bid.
Obviously you have imitators like Zillow trying to edge in as well, and step back after taking heavy losses, so its hard to say for sure where the new equilibrim will end up at.
- zer00eyz 4y ago> Specifically, investment firms specializing in single family housing I dont think I have seen good data that includes or calls out "investors" rather than "investment firms" I suspect that a lot of property ends up in the hands of individuals be it a vacation home, rental, air BB or flip.
- VirusNewbie 4y agoI worry about exactly this. For every house an investment company buys, how many did they bid on which drove the price up?