I spoke with a few local real estate agents over the weekend and almost all of them are reporting a paralysis in the local real estate market.
Buyers are sitting on the sidelines wondering if prices will fall and if so by how much. While sellers, who are at this point, not pressed to make a deal are waiting it out. Couple this with the financial companies becoming more stringent in granting approval for mortgages. Net result…… A Classic Standoff.
Who will blink first?