They re asking one point five million. A year ago, it might have taken a few hours or a few days to sell. Now it s taking a few months. You see the size of the house, but when you go a million and above, people want brand new. Broker John Pinto says the once hyper market is changing back to normal.
Sellers are in denial, saying nothing has changed.
The stock market has dropped and buyers are worried about having jobs. Pinto says it will take three or four months for the new market reality to set in, and the reality is that people don t have money to spend like they used to. I think the higher the price range, the more softness you re going to have.