Industry News

Rising inventory dampens home-sale climate

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: Experts have predicted that the torrid pace of home sales and double-digit price growth would slow this year, and some segments are already experiencing this. In this three-part report we take the housing market's latest pulse to get a feel for what's happening across the country and what real estate executives advise brokers and agents can do to stay on top. (See Part 1 and Part 3.) Dustin and Rebecca Snook believe they could have listed their North Las Vegas home for more, but considering softening conditions, were prepared to compromise. The decision appears to be paying off. After about only a month on the market, Dustin Snook said they received a full offer on their approximately 2,500-square-foot home, listed at $475,000. "We thought we should probably go for $75,000 more, but we bargained out what could be accomplished with the listing price. We had to go with a price that was reasonable for the time," said Dustin Snook, 34, who is self-employed. That make...