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Sudden increase in home prices in my area despite slower market

I’ve been looking to buy a home in a specific zip code since late February. Since then, I’ve gotten a general idea about home price ranges for size/condition/neighborhood through my agent’s comp knowledge and seeing what houses actually sold for/how long they sat on market. Since then interest rates have obviously gone up and houses have been sitting for a lot longer at their list prices. In the last few weeks specifically, pretty much all the houses that have listed have listed 10-30k higher than comparable houses that I’ve seen sell in the same neighborhoods, etc in the last few months. This surprised me because the market in my area has noticeably slowed down since then. I knew that the summer market was supposed to have more buyers shopping, is this trend probably a result of that expectation? Or is it likely just a coincidence?

submitted by /u/emilyginger
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source https://www.reddit.com/r/RealEstate/comments/1uqzb5z/sudden_increase_in_home_prices_in_my_area_despite/
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