It is a market by market trend. We have been looking for a home in the SLC area for about six months. The homes in our target range last little more than two days before selling.
True we are probably looking "above median" but about twice what I'd have to pay in southern Alabama.
I'm of the belief that, like politics, real estate is local.
P.S. If you know of any good deals in SLC area ping me!
Real estate is no longer local because it's such a large part of our economy. The firms that support the real estate market are spread throughout the country. If they start hurting, they're going to lay people off.