“Just knowing that the list price is what you can actually buy the house for, that’s a big shift,” said Villarreal. “List prices are still very much in sellers’ favor and still going up at a meaningful rate. It’s just removing that uncertainty of the multiple offer market” for buyers.
Seattle, Denver and Baltimore are seeing price growth slow by the quarter, said Skylar Olsen, director of economic research and outreach for Zillow Group Inc.
“In many ways, we’re so used to things moving so fast that we forget that housing markets are supposed to be stable,’’ Olsen said. “These are long-term financial decisions. They should move more slowly.”
This article was provided by Bloomberg News.