I think the average shopper will shop around for deals on major items, whether it’s for a tv or a car. Unless you have money to burn, you will try to get the best possible price for something and a house qualifies as one of those major purchases. Somebody paying LP for a house must be totally in love w/it and it’s an emotional purchase, or a complete idiot and would not be considered average person then. I’m not assuming all buyers know they can make a lowball offer. Only the average ones. Idiots don’t qualify as average.
In any case, PL has been seeing some declines across the board.