Quote:
Originally Posted by margaretmattson
A new home in the Villages is never negotiated. The price is the price. They will not waiver or ask more even if many buyers are interested in the same home.
Bidding wars can occur with preowned homes. If a seller has several buyers interested in his property, he/she will obviously take the highest offer.
Bidding wars do not happen with every home and are not indicative of a seller's market. It is one or a few homeowners who have a property that has plenty of buyer interest.
The last seller's market occurred when Covid lockdown and restrictions were lifted. As we all know, prices soared. We are now experiencing a softening of home prices. It is a cautionary market. Home prices can continue to decline or they can rise.
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Well, thanks for the explanation. All of those dynamics I previously understood. I was taken aback by another's definition of a sellers market as one in which homes eventually sold for more than asking price. I can understand that may be an occurrence in an extreme sellers market, but would not have thought it a requirement of a sellers market.
From your explanations I'd take it you agree with me.