Submitted by TransitionSea9480 t3_1255grj in RhodeIsland
fishythepete t1_je61rtp wrote
Reply to comment by BingBong022 in Would you buy a house in RI right now? Why or why not? by TransitionSea9480
>False inventory is down because nobody is selling
it looks better than it did this time last year relative to demand.
Bolded it for you to help you figure out what you missed. Inventory changes don’t happen in a vacuum. They happen against a backdrop of changes like rising interest rates and economic concerns.
>the prices of all my properties have increased from last year
Congrats, you had the good luck to live close to a few major markets and not bumfuck Indiana. The median existing-home sales price was down 0.2% to $363,000 in February compared to a year ago. This is the first drop that has happened in 11 years. If you think it is an isolated event, you might want to chart some NAR data, because you clearly can’t see which way the wind is blowing.
BingBong022 t1_je655xo wrote
Lol
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[deleted] t1_je6afab wrote
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[deleted] t1_je6ay4h wrote
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AttackonRetail t1_je6ephg wrote
Aren't we only talking about RI relevant data? Are you using national averages?
fishythepete t1_je6wkum wrote
Are you under the impression that RI is some unique real estate microcosm that would insulate it from the national average?
National average data is absolutely relevant to RI.
BingBong022 t1_je7khbx wrote
Give it a lick, How Many Licks To The Center?
BingBong022 t1_je6xvab wrote
You're not the brightest bulb
[deleted] t1_je77dnt wrote
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