Major Price Reductions?

It is often alarming to pull up the days MLS listings and see 151 new listings and 410 listings with price reductions. To the casual observer this may appear to be panic sales, a holy cow what’s going on with the market moment. When real estate brokers see these numbers they realize it’s highly unlikely to be a mass sell off by individual sellers but rather reductions by a specific builder or vacant lots in a subdivision. This time we can thank this number skew to CBH Homes who appears to have reduced their entire inventory – this is a guess not a fact – but regardless they have reduced the price on street after street, sub after sub of homes. In most cases the reductions are minor, but that along with the still incredible interest rates make it an great time to buy!