I hope the supply/demand numbers get into balance.
About a year ago my wife and I looked at two houses in nice, but not wealthy, suburbs north of Atlanta. One house had 23 offers over the first weekend. The other had 18 offers, and the owner kicked most of the offers back and was only cosidering cash offers. You had to provide a bank statement verifying you had the cash for your offer to even be considered.
Real estate agents were loving it.
“You had to provide a bank statement verifying you had the cash for your offer to even be considered.”
People continue to ignore the most important current fact about real estate We have a national shortage of housing that has gotten worse for 10 years and we aren’t catching up. We have a young demographic that makes good money and wants housing.
In a normal housing market it takes 90 days to get a house under contract. People would call that a “crash” these days.