PHOTO: Ali and Stephane Lelievre, with daughter Charlee, are selling their Freshwater house. Picture: Tim Hunter.Source:News Corp Australia
The housing market has become caught in a Catch 22 situation that’s preventing many homeowners from selling their properties and making it harder for buyers to make a move.
Homeowners have been drawn into a “Mexican standoff” expected to drain Sydney of real estate listings and make it harder for buyers to find their dream home.
Agents claim many would-be sellers have been holding off listing their homes for sale until prices stop falling and they see strong sales results in their area.
But because multiple owners have adopted this attitude too few homes are being listed to provide the evidence of an improvement they’re seeking, creating a cycle where no one is listing because none of their neighbours are.
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