Real estate values are going absolutely crazy!

[RalphVa]

Lots of people moving to the country what with remote work possible now.

 

[YanmarFever]

Lots of people moving to the country what with remote work possible now.

They are also afraid of the rioting, crime and covid.

 

[PuffyC]

I have no data but I would suspect it’s pent up demand due to people not being able to move during covid and the lack of new homes being built for the same reason. Once we work through that demand things will go back to normal.

 

[MoKelly]

I have no data but I would suspect it’s pent up demand due to people not being able to move during covid and the lack of new homes being built for the same reason. Once we work through that demand things will go back to normal.

I’ve also heard people wanting to sell is way down - for sale inventory is way down.

Lots of folks upgraded their homes last year. Our neighbors wanted to put in a pool last July 2020. The contractor said the earliest they could get to it was June 2021. They put down a $25,000 deposit just to get in line for something to start a year later.

It is crazy times.

MoKelly

 

[Username Taken]

I’ve also heard people wanting to sell is way down - for sale inventory is way down.

<snip>

This is very true. With the covid scare, who wants strangers wandering through their house when it gets shown to prospective buyers?

And where do you go when your realtor shows your house? You're not suposed to be there. Some States still have things locked down.

 

[DavenFla]

All the 'circumstances' that led to the housing bubble in 2008 isn't present now. Completely different set of dynamics. People have money and willing to spend it, lots of cash buyers, and existing homes are 'currently' in more demand than new, due to the cost of labor and materials.