A housing market that's not one flavor
Some of it might be sheer stubbornness. People selling after a year-and-a-half or two of ownership, on the other hand, could be trying to avoid bringing money to the settlement table to cover the difference between what they owe and what a buyer will pay.
But the other side to this? Not everyone's pricing that way:
Mike and Colleen Sacca, who sold their Bel Air townhouse in January and moved in with relatives while searching for a single-family house, have seen both aspects of the market. In three months of looking in the $320,000 to $350,000 range, they checked out homes that were clearly priced too high. But they were outbid twice on homes that were "great deals," Mike Sacca said.