Fear of a recession, rising rates means a change in how housing market is seen

Christopher Carter is not mincing words.

The Naples residential broker and author of The Florida Real Estate Blog has been telling customers for a few months now the market is changing, that the days of escalator clauses and bidding wars are gone. Did they listen?

“There was a stretch in April (to) June when it was difficult getting buyers to understand that the market was slowing and they didn’t have to buy the next house or condo they saw. Also difficult was getting sellers to understand that they could no longer ask artificially high prices and expect a bidding war,” says Carter.