Two for-sale signs sit side by side on a quiet Nashville street, and one of them tells a story sellers across the country are starting to know too well. The owner of the house behind real estate analyst Reventure Consulting paid $505,000 for it in 2023. Today it is listed at $459,000, a $46,000 loss on paper before a single realtor fee or closing cost comes out of the check.
Reventure Consulting stood on that street in a recent YouTube video and pointed at the two listings. He says he is seeing more and more of this where he lives: sellers competing door to door, and some of them taking a loss on homes they bought only a couple of years ago, when everybody was sure prices would climb forever.
Showings Are Slipping Fast
The video opens with a number that has sellers nervous. According to Reventure Consulting, ShowingTime, a company owned by Zillow that tracks how many showings realtors book for buyers, reports that showings through early October are down 8% from the first week of the year. At the same point last year, showings were up 18%. He calls it a good leading indicator for the whole market…