this post was submitted on 24 Jun 2025
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The home sales slump in the U.S. continues: Last month was the slowest May for existing home sales since 2009.

Existing home sales in May fell 0.7% compared to the same month last year. Measured monthly, sales were up slightly, 0.8%, from the month before — but that marks an increase from the slowest April for existing home sales in 16 years.

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[–] Know_not_Scotty_does@lemmy.world 4 points 21 hours ago (1 children)

Some sellers have realized that this market is not the covid market anymore. Those that have not have seen the houses sit for 9+months. In Texas, that's crazy to me given the hight cost of insurance and property taxes. In real terms, a 400k house costs ~$5000/ year to insure, and costs ~$7000 per year in property taxes so if it sits for 6 months, that costs you a MINIMUM of $6k even if the mortgage is paid off.

We just closed on our new (to us) place last week and while the seller was more realistic about price, they insisted we pay for everything, appraisal, survey, all closing costs which was not how it was 8 years ago when we bought our first house.

[–] glimse@lemmy.world 5 points 20 hours ago (1 children)

I bought a condo in 2009/2010 and the market is way crazier now. Back then it felt very...human? This time around, the whole process selfish and greedy with everyone trying to take advantage of you on both sides.

[–] Know_not_Scotty_does@lemmy.world 3 points 17 hours ago

I hate how the whole process works.

We had one seller essentially manipulate us by telling us there were multiple offers when there weren't, told no less than three people that they had the house inspected to make sure it was in good shape then gaslight us about that and claim we were lying when we asked for the report. Then they ignored our contract terms, then refuse to make repairs or discount the house after significant work was required when we had the house inspected. Then when we canceled our contract because the option period was about to expire (after offering to extend it if they got the forms back to us before the deadline) because they refused to negotiate on the price or repairs, they asked why we backed out of the deal.

THEN THESE FUCKERS WOULDN'T SHARE THE INSPECTION REPORT WE PAID FOR WITH THE NEXT PROSPECTIVE BUYER UNTIL THEY WERE UNDER CONTRACT. Which is not how that is supposed to go.

The new buyer reached out to our agent and asked about what was up and if we would share the report to which I said of course, here is everything we went through and how these people behave, lowball the shit out of them.