August activity continued to be very slow, with fewer sales than in July and price drops in all main categories of homes. I do expect the volume sales and new listings to pick up in September, but Sellers shouldn’t be trying to set new price points. Buyers will still have to compete for the best properties but must continue to exercise self-control and restraint when it comes to offer prices. I’m starting to see more listing agents offer higher commissions to attract buyer agents to their properties, which is fair game. Buyers need to remain in control of their decisions and make sure they have all the information they need to make the right choices.
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