List prices for homes hold steady nationwide amid pandemic

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A new survey by the National Association of Realtors found that three of every four agents say their clients haven’t cut their listing prices to attract buyers – even though one in five potential buyers has dropped out of the market because of job losses or other financial concerns.

The NAR “economic pulse flash survey,” conducted April 26-27, sought to evaluate the impact that the coronavirus pandemic has had on the real estate market. According to the report, 76% of Realtors say sellers haven’t changed their pricing, but 64% of the agents say buyers want some discounts in the prices.

“Nearly 70% of Americans have secure employment and those interested in purchasing homes are looking at the enticing mortgage rates,” said NAR Chief Economist Lawrence Yun. “More home sellers are needed to relieve the acute inventory shortage.”

Posted by The Buffalo News

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