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Are Houses Still Selling Above Asking Price?

I want to know if houses are still selling above asking price. I mean has this trend changed? I know I should always bid lower than the asking price but is it normal for sellers to request even more than the asking price?

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Answer #1

From what my uncle just paid for a house in our area ( Silicon Valley, Bay Area, CA) it seems like houses are going for asking price. Not above, not below. Though that’s only one example. From what I read in the general economic news though, interest rates must rise, which puts downward pressure on real estate pricing. For the market to continue to grow as it has for the last few years in the face of the changes would be remarkable, however, this are might be the exception to the rule.

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