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Originally Posted by thinkxingu
Lots of articles this last week about a slowdown in the housing market. Many identify "500k more sellers than buyers" and that "the real estate market is finally starting to listen."
I've gotta think that second home locations would show trends like this before primary home areas—anyone seeing a slowdown in the Lakes Region?
I know that here at Arcadia, properties are still selling without hitting the market, but that might be a reflection of the cost-of-entry becoming a better value with high interest rates and prices.
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It was bound to happen sooner or later. I know a guy who put his home on the market a few weeks ago, an entry level lake access home. A year ago, that home would have had multiple offers, now it sits on the market for who knows how long.
The second home market is usually the first to slow down.
Other parts of the country are already in a decline, New England overall has held up better than most.
In my hometown of Waltham Ma. a 1000 sq ft entry level home on a slab in need of remodeling listed for 650K, had multiple offers over list at an open house last week.