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Home sales are at a 30-year low, builders are pulling back, and mortgage applications are down nearly 40% compared to pre-pandemic levels. Despite rising inventory, sellers are refusing to lower prices, largely influenced by inflated online estimates from sites like Zillow. Meanwhile, real estate commissions remain largely unchanged after the NAR lawsuit, proving much of the panic was overblown. With 22% of Americans considering a move post-election, now is the time for realtors and lenders to re-engage their clients and plant the seeds for spring sales. The market won’t fix itself—are you ready to take action?
