Real estate market enters ‘murky territory’ amid price drops: ‘Million Dollar Listing’ star

Reacting to new data reporting that 20% of U.S. home sellers dropped their listing price at the fastest rate since 2019, real estate agent and Bravo's "Million Dollar Listing" star Kirsten Jordan signaled the market is entering "very murky territory" with "overzealous" home sellers and buyers on "Cavuto: Coast to Coast" Tuesday.

HOME SELLERS IN HOT MARKETS ARE DROPPING PRICES AS DEMAND WANES

KIRSTEN JORDAN: Very murky territory, I would say. We're really seeing pockets of still strong growth, luxury in the right kind of market. You're still seeing the multiple bids. You're still seeing a very, very deep buyer pool. And then you go into other markets where maybe people are starting to have to go back to work in the workplace, and that could affect certain areas where people moved to be able to be there, and now they're saying, 'Hey, maybe this isn't going to work for me anymore.'

And then, exactly like you're saying, there are sellers who got super, super overzealous. They were so excited about these numbers, and they thought that this was their opportunity to really make a killing. And now, they've gotten excited about maybe going out there and changing their lifestyle and buying something different, even if it's downsizing, and it's time to get realistic on pricing.

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