B
enzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A Tennessee couple looking for a lake house shared on r/RealEstate that their agent urged them to pause the purchase, not because they lacked qualification but because market prices were soaring. The couple had spent months scouting lakefront homes with docks and were stunned by the cost after viewing two properties. Their realtor bluntly said, “Prices have risen so fast that none of these homes meet my quality standards unless they’re brand‑new, multi‑million‑dollar listings. I recommend waiting a year or two to see if prices soften.” The buyers, who had a mortgage pre‑approval, were surprised and questioned the agent’s motives, noting they had only spent a couple of hours with him. Reddit commenters largely backed the agent, arguing that a professional’s duty is to protect clients from overpaying. Some users pointed out that vacation homes often see the first price cuts during downturns, and they confirmed recent price reductions in Tennessee lakefront markets—especially on properties that had doubled in value since 2020. One commenter noted that homes in central‑eastern Tennessee have dropped $25,000 to $100,000 since 2024. Others highlighted broader economic pressures such as inflation, rising interest rates, and slowing demand, noting that higher mortgage rates make carrying a 7‑8% loan more burdensome.