How is the summer market?

[Anonymous]

Now that the summer has officially started and the spring market is over...and arguably has been over for a while....how is the summer market looking for your home search?

Just in the past couple of weeks, inventory in my target search area still is low but is about as low as it was all spring. Prices are still out of control but I don't anticipate that changing any time soon. All the "good houses" or houses that are competitively priced are getting scooped up, but not within 24 hours so a slight slowdown in demand?

Predictions or reports?

[Anonymous]

Prediction:

The status quo shall remain.

[Anonymous]

1) Active inventory will build by at least 8%

2) New listings will stay down 20%+ y/y

3) Days on market will grow by 7+

4) Median price will stay stubbornly flat

5) New home sales surprise upside

[Anonymous]

Buy now or be priced out forever!

[Anonymous]

In our HOA community with all similar houses, the market seems hot. One of our neighbors put their house on the market in early June. The open house was pretty popular and at least one prospective buyer did a preinspection. It went pending in 5 days. It was listed at 4% above the price the last house sold for last fall. It probably went for list but I would not be surprised if it went for a little bit over.

[Anonymous]

I'm seeing inventory coming and places sitting that would not be sitting a couple of months ago, except in the specific neighborhood we want to buy in- no listings there.

[Anonymous]

Brutal. Friends have lost multiple bidding wars. Escalations going $100K+ over asking prices.

[Anonymous]

Anonymous wrote:Brutal. Friends have lost multiple bidding wars. Escalations going $100K+ over asking prices.

[Anonymous]

I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

[Anonymous]

Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

[Anonymous]

Summer has not started. This weather sucks

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.

NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.

DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.

NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

Gimme the MLS ID, I'll show the report.