My urban area has still been in a 20-40% fake markup since covid. Maybe this will change.
Same here in SW Washington State. Just CRAZY prices.
Also, Nashville. As a child I had to go to Al Gore’s neighborhood to find a house with a sale price of over a million dollar. NOW, I would only have to go a couple of blocks from my mom’s house to find a lot with 2 of these new ugly rectangular box houses on it where each is a million dollars.
My new construction house went up 47% in 6 years. Now it is down 5% from recent high on Zillow. That is not a crash.