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Originally Posted by Cowboy89
Average price increases can also be misleading. If less units are moving then that doesn't speak well for the 'hidden inventory' effect. A lot of realty-type people don't want to admit that we're in an over-built situation and it's not just the homes on MLS that are in essence 'for sale.'
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Eh? My realtor told me straight out that my house would be directly competing against new houses.
I can't really see how anyone could say otherwise - there's always new houses being built.
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I would venture a guess and imagine that the increase in sales is solely first time buyers and upgraders taking advantage of low interest rates. After a while there just isn't the same volume of those people left who haven't already made their move. Hopefully then there's actually GDP increases fuelling growth or the market will plunge.
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If you're saying that speculators and people who want to rent out a property are gone, then good riddance to them.