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iepure77 t1_ir5xp60 wrote

Percent reduction over what time frame? 1-30 September?

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thedrcubed t1_ir61npu wrote

Just from my area it looks like the more desirable locations are the ones dropping in price which isn't surprising because they're the ones that had gotten way overpriced

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heathenbeast t1_ir67qj5 wrote

I was just browsing Trulia in my area last night and noted to the wife that many of the homes had Reduced their pricing at some point; some significantly.

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RD__III t1_ir67x0k wrote

Replying to iepure77 (#37,167)

The MLS tracks every time a listing has been posted, as well as any price reductions. They likely just went through every listing and counted any that had a "price reduction" input after the most recent "closed" input.

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jkatz20740 t1_ir6de8o wrote

Would be interesting to see this data over time.

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tico_pico t1_ir6eotm wrote

How did you scale the home price data to overlay the map below it?

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euclitorous t1_ir6i2me wrote

I fail to see what this has to do with major league soccer

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Comfortable-Boot-915 t1_ir6jwh3 wrote

I downvoted because i didnt know what "MLS" is and its frustrating that the author either assumed we would know or didnt care to clarify. I liked the comment about major league soccer that hinted at this.

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JohnnyAK907 t1_ir6sktf wrote

I wish these images had darker lines separating the states. I'm looking for my region and the color gradients make both my brain and eyes hurt.

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michigician OP t1_ir6tiko wrote

Replying to tico_pico (#37,964)

The data is by county. There are a number of data fields that provide counts of listings: active listings, pending listings, and total listings. There are also data fields for increased price listings, and price reduction listings. This map is based on reduced price listings divided by active listings times 100.

I am going to check if using the total listings as the denominator eliminates the problem that some counties show more reduced price listings than active listings.

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Likely_a_bot t1_ir6zsja wrote

Price reductions tend to follow fluid dynamics. The markets where we saw the high prices first will receive the reductions first, with the late comers like my market cooling down in the next few months.

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bradland t1_ir79t1h wrote

Replying to michigician (#37,526)

The question is, how does this compare to prior periods? Are price reductions a normal part of the market mechanism? That is to say, is it all that unusual for someone to list a home at a high price, then drop the price to find the market fit?

3

badchad65 t1_ir7fpre wrote

So how would this compare to say, any other point in history? I see a lot of red, but there’s now way for me to tell if it’s abnormal or not.

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TheMostInterestedMan t1_ir7h1uz wrote

Ah yes, Phoenix is representing well; the market was hot and overstated for way too long. In my immediate area since 2012, the total housing price increase is over 300% which is just ludicrous.

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Lethlnjektn t1_ir7n27f wrote

Is there a way to stop from seeing maps/charts/graphs like this constantly in my feed or do I have to unfollow the sub entirely? I see a thing similar to this one Every Single Day

1

chasekaws t1_ir7osxl wrote

Oh, you mean to tell me that charging $1.5 million for a 600 square-foot shack in California is not sustainable…

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RDMvb6 t1_ir7pqoe wrote

It’s important to note that in most areas even tho the price of the home is going down, the total monthly cost of ownership is going up because the decrease in purchase price is outweighed by the increase in interest cost. This is still not good news for people who are priced out of the home market.

1

AaronsLennon t1_ir7q69p wrote

Replying to bradland (#39,439)

While I question the formula used I can indeed confirm that price changes have not occured in 2020 or 2021. Homes sold immediately and for well over list price in my area. I.e. home were not on the market long enough for the seller to change the price.

Price changes are normal in an average market but these numbers are all new to anyone who has been watching the market for only the last 3 years.

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elementofpee t1_ir7rroz wrote

Bring it on. Let the Great Reset begin.

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Dr3d_Recs t1_ir7u4y2 wrote

Good ol' Boise Idaho with 1094%. I'm assuming the "10" was supposed to be for a neighboring county, but still, 94% is insane!

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Sure_Surprise_1661 t1_ir7uil4 wrote

Some very serious omissions here. From when to September? Is this a reduction in the median?

I see my home county at 40-50 but it the median went up 30-40.

This can be very deceptive.

1

RedRabbit37 t1_ir7zeqn wrote

Replying to euclitorous (#38,180)

I mean their expansion efforts have clearly become ridiculous. I mean Las Vegas, Indianapolis, San Diego, Detroit and Phoenix: ok. But every populated county in the US? No wonder their value is going down. The playoffs will be a mess that’s for sure.

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willwork4pii t1_ir81hl3 wrote

now show us time on market vs this time last year

1

aureliao t1_ir8hlgc wrote

Neat data. You have a lot of good feedback here. I agree with other commenters - 1) The color scale should have better contrast. 2) you need to check your data as there are multiple areas with 100%+ and even multiple with 1000%+. 3) Strong state borders would make it easier to identify.

1

atlantachicago t1_ir8hn83 wrote

Ok, can we stop raising interest rates now?

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Notor1ousNate t1_ir8hry6 wrote

🤷‍♂️ I know this isn’t accurate based solely on the handful of counties I service and their representation on the map. Either your data is WAY wrong or the way you got your number is WAY wrong. Listings in one of the counts colored at 50% or more listings reduced sold at 98% of list price for September.

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miso_very_sorry t1_ir8j3ly wrote

Do you post this data regularly anywhere? Would love to monitor this over time.

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StreakPro t1_ir8kpk4 wrote

This doesn’t really matter when the interest rates are double of what they were last year. You’re essentially paying the exact amount and then some.

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michigician OP t1_ir8lbip wrote

Replying to tico_pico (#38,778)

The software is QGIS. The County map is US Census Tiger Cartographic shapefile set by county. I have to make some changes to the realtor.com csv file, the county id numbers which start with 0 lose the initial 0 so I have to add the 0 and convert the field to text using Libreoffice Calc.

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