The $5 question is: How much of this so called "softening" is "seasonal" and how much it is the reflection of higher prices, increased interest rate and buyers just being discouraged by higher prices. I believe we are just at the beginning of market correcting itself and in the next few months, we will be witnessing more price reductions, homes staying on the market longer and buyers holding back on paying for overpriced homes, something we didn't witness all that much for the past few years.
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