From the Delaware State News:
Area housing market slows
By Jenny Maher
If you look in the real estate section these days, you’ll probably notice two words rarely seen in the past few years – “price reduced.”
It’s something homebuyers have been longing to see – a sign that the pendulum has swung in their direction.
With so much demand, area homeowners had little difficulty selling their property quickly, and for lofty asking prices.
But experts knew it was only a matter of time before the real estate bubble would burst.
“It was an anomaly and it couldn’t be sustained,” Ms. Briggs-King said. “It would’ve priced too many people out of the market.”
As expected, the housing market cooled this year.
And with the housing market slumping in other areas, Mr. Martin said there aren’t as many out-of-state buyers coming to Delaware, because they are having a hard time selling their homes.
“The New Jersey and Pennsylvania markets are not as healthy, and they do have an impact on our market,” he said.