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michigician OP t1_ivv7ck6 wrote

Blue means houses are selling more quickly than last month, red means houses are sitting around not being sold longer than last month.

It could be caused by seasonal changes, but in many cases, it is due to the higher cost of financing a home purchase, and prices which are too high for buyers.

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Liesthroughisteeth t1_ivvdlup wrote

It's seasonal in part for sure coming up on the winter months, generally it slows down some with people much less inclined to be disturbed by showings and the prospect of moving a household in the middle of winter.

However the economy isn't getting any better. Major corporations are laying people off, consumer confidence is taking a hit and corporations are sidelining any capital expenditures and expansion as the cost of borrowing goes up. This is what happens (as it is intended to) when interest rates go up to combat inflation.

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boganvegan t1_ivvwxts wrote

West Central Florida's red zone coincides with the area damaged by Hurricane Ian.

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