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The support for continued high prices that too many overlook is the huge number of buyers who have gone to the sidelines frustrated with not getting a house in numerous attempts in multiple offer situations.
When one buys a house, and there were 31 offers, that means that there are 30 buyers still in the chase, still with limited inventory, and with people gearing up for spring/summer seasons.
and so even if 1/3 of Buyers no longer qualify or only qualify for less, then you only get 20 offers.
All I know is my son is getting ready to sell his cookie cutter house in a starter home neighborhood in a suburb of Savannah. 2 identical houses to his, sold within 2 days in the $250k range.
His is way nicer, so I hope the frenzy lasts for a few more weeks. He bought the house in 2008 at the height of the bubble, for $171k, and he’s rented it for years until it reached a break even point. Finally he’ll make some money on it.
A couple of agents - just a couple - are starting the doom and gloom phase.
Others are upbeat. Just wondered what others are seeing.
I need an excellent 2022.
I'm sure this area specific.
For our area, few houses on the market, anything decent is gone in days. All new builds are sold quickly before construction. Our prices are still going up.
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Located in South Florida - market is still hot here - no inventory but I've got a couple of agents complaining that they are slow all of a sudden.
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Actually, I'm a mortgage broker in Florida
I do all of Florida
