Seems to me like the Realtors are backward looking, just like an appraiser would be. They look at sold comps to gauge value, today.
ocrenter is more forward looking in that he looks at the direction market by reviewing asking prices.
The asking prices are dropping and dropping, so it’s only a matter of time until we have closed sales confirmation of the downward trend.
One may wish to debate what the market is at, today. Why bother when all the signs point to lower and lower prices.
There was a time when sellers asked for the moon, got it and drove the market higher and higher. We now have opposite situation where sellers need to get ahead of the curve, and take some painful losses if they want to sell. They will drive the market lower and lower.
