Interest in overpriced real estate wanes

Where have the buyers gone?

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Beautiful homes in desirable locations can sit on the market for months simply because they are priced too high and the sellers won’t reduce the price. Sellers often tell their agent to encourage buyers to make offers, but buyers usually don’t.

Although this may seem counterintuitive to sellers, buyers have good reasons for not making offers on listings that are overpriced for the market. A high price can signal an unrealistic seller.