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I live in a development of 115 homes, next to a development of 500 homes. Prices are up 50% in the last 18 months. There are zero out of 615 homes on the mark
by 11thEarlOfMar 4y ago
I live in a development of 115 homes, next to a development of 500 homes.
Prices are up 50% in the last 18 months.
There are zero out of 615 homes on the market and this is supposed to be high season for transactions.
It makes no sense to me.
- ryanSrich 4y agoI think a lot of people are panic buying at this point. The fed has several rate hikes planned, so the TCO is only going up from here. I don’t see prices coming down. We could see the increase in prices slow down, but it’s almost guaranteed a house right now is going to be cheaper than a house in December. Even if the price stays the same, your rate might be 12% in November.
- dannyw 4y agoNo; the price will decrease as buyers can't afford as much due to higher rates.