I empathize with you. I really do. You bought your current residence with the prospect of making a pretty penny when you went to sell your home. Now, the market is slowing. Oddly, average sales prices are not nose diving as expected, but the days on the market is going through the roof. This also coincides with the increase in the number of listings currently on the market.
To make things more bleak, the buyers in this article are fairly normal in their behavior. There are a lot of homes for them to consider on paper and then decide which to walk through. The added kick in the shorts here is that these buyers aren’t in a position to buy! According to the article, they need to sell their home in Dearborn, before they can buy here in Ann Arbor.
Is there a silver-lining to all this? Yes! Those same statistics show that homes are selling! While they may not be selling at the break neck rate that we saw in 2005 [cough second best market ever cough] or 2004 [cough best ever cough] we are seeing steady sales.
Homes are selling. Well priced, sparkling, value packed homes are not lasting in this market.