"Overpricing is the main culprit for listings becoming stale. Many sellers have expectations about their home value that stem from the buying craze of 2021-22 when listing prices shot up across the country."
"Sellers can see what their neighbors got for their homes during that period and are reluctant to list for less, leading to their homes sitting on the market for longer and eventually needing to receive price reductions to finally sell."
"Realizing that your home is worth less on the market than it was a few years ago is a tough pill to swallow, but sellers must accept the new normal if the pace of sales is to pick back up."
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