Post by Zillow

The housing market depends on a shared record of how homes actually sell. It’s quietly being eroded. When homes are marketed privately, price cuts and days on market disappear. What's left creates a false sense of what demand actually looks like. As Bruce Ailion writes in HousingWire: "One home off the books is a choice. A meaningful share of the market off the books degrades the shared record for everyone — including the buyers, appraisers, lenders and investors who never opted in." The real estate industry in the U.S. only works the way it does if the record is complete. Read more: https://lnkd.in/ebKJhfGc