Why homes are becoming stale

In real-estate a listing that has been on the market for more than 60 days is considered a “stale” listing. What usually happens to a stale listing, is that the seller removes their listing from the platform, will wait a few days, then repost it. This is supposed to then rejuvenate the listing by showing new potential buyers a more attractive figure for “days listed”, and perhaps attract a new clientele. This solution seems to properly explain the way that many people look at housing.

Polish the extractive in an attempt to make it desirable.

In Redfin’s report the blame is placed on the sellers. More than 35% of these sellers purchased their homes during covid, when demand was high and prices were soaring. Everyone wanted to get into the real estate market as an investment during a time when homes were priced at a premium. The markets have since cooled down, and those same buyers are now sellers in a market where no one wants to buy their property at the price it was once valued. Their options are now to either sell at a loss, or rent it out until they re-list it again and cross their fingers they find a desperate buyer willing to pay. Much of the blame of this type of situation that happens periodically every 10-15 years, usually falls on supply. The supply is seen as too expensive or there is not enough, but rarely are we identifying the stable demand that is happening in the background, while sellers struggle to identify the reasons their homes are not selling. The stability in housing comes when you do not look at it as a “stale listing” instead you look at it as a “stale home”. The homes that are being delisted and re-listed repeatedly are the same homes that were built without the final user in mind. They were built as if they were a stock, just with far less financial return. Since 1970, the stock market has outperformed the real estate market by 2000%.