Pricing realism now defining market
http://www.property24.com/articles/pricing-realism-now-defining-market/12009
Pricing realism and oversupply are now stark realities in the residential property market with more people dropping their asking prices and properties staying on the market for longer periods.
The 2nd Quarter FNB Property Barometer, which gauges the opinions of estate agents, showed the average time that a house is on the market before being sold shot up to 17 weeks and 1 day from 12 weeks and 4 days in the 1st Quarter (Q1).
“While being subjective, we are of the opinion that in a market with a healthy balance between demand and supply, this level should be below 2 months,” said John Loos, property economist at FNB.
Related posts:
