Of course ASK is usually more than BID

i'm guessing from the title of your thread that you didn't pay particular attention to the fact that this was occurring at a higher percentage for listings of properties that had been bought in 2007 or later, which is kind of the entire point of the article.

to me the more interesting part of the article:

"Stan Humphries, Zillow’s chief economist, says those who bought post-bubble, in 2008, 2009 or later, seem to think they escaped the worse of the housing market debacle and tend to price their homes too high as a result. But 2006 was just the start of the housing recession, which continues today; home values are now down nearly 30 percent from the market’s peak. And, values have fallen about 12 percent from January 2009 through May of this year, he says."

Help. I have a stalker :)

don't flatter yourself.

Have a wonderful day.

Gotta love those 2009 buyers with their whopping 22.7% overpricing. There's certainly a disconnect between what 2009 buyers here think -- that they picked up something on the cheap during the panic days of 2009 -- and the cold hard numbers from SE that show only a 5% bounce from the rock bottom of late 2009.

There is that psychology of not wanting to sell for less than purchase.

That psychology should be stronger with 2006 buyers as they are generally more underwater, no? Something else is going on. Either the harsh reality of time, or the added fog of envisioning yourself as having caught an "opportunity of a lifetime in 2009".

I don't have the answer, but wondering about the following.
Recent buyers may be more likley to recall commission and other costs undertaken during the original purchase
A home being sold today that was only purchased 3/4 years ago may not be reflective of general HPA assumptions.

Zillow is also selling shares to the public, so a good time to put out press releases about it's product.