I think the bubble is popping.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The pandemic is over. People who wanted to move now feel safe trying to do so, which means they have homes to sell. There's a bit of a conundrum in that no one wants to put their home on the market if they can't find another place to live, but I bet those worries will subside as the pandemic is over and we all get back to normal in 2022. The days of crappy homes getting 10 offers with vastly over asking bids are probably ending, so if you want to sell, now is the time to do it before the peak ends. 2022 and beyond will likely get back to normal. Any rate hike will potentially knock a lot of wind out of the market. People have gotten used to almost 15 years of cheap money. The days of cheap lending may be ending though.

Yeah maybe, but good gosh - millions of homeowners have already refinanced into absurdly low rates and are locked in for the next 15-30 years.

Yes, this is going to put a squeeze on inventory. Of course many people will be relocated, or just decide to move anyway, but a non-trivial percentage of owners won't want to give up their sub-3% rates, and/or will find that rising rates depress their sale price, so they'll stay put. This will have a ripple effect on other prices.

[Anonymous]

Interest rates are now higher than the 2.75 we got in February. They’re more like 3.5.

[Anonymous]

One thing I’ve seen last couple weeks is a lot of houses coming on the market with no furniture. I think we’re seeing a surge in estate and former rental homes coming on the market. Down the street from me an older poorly maintained house is being dehoarded and getting a roof. Think it was a rental. Active inventory was about 15 two months ago ip to more than 40 now in the area I track.

[Anonymous]

I've been getting many price drop alerts as others have stated. I there is no longer competition so things may settle down.

[Anonymous]

Anonymous wrote:I've been getting many price drop alerts as others have stated. I there is no longer competition so things may settle down.

Where exactly? Homes are still going under contract in 24 hours in my area

[Anonymous]

Anonymous wrote:I am shopping in rockville/Potomac area and I can tell you most assuredly that for nice houses, the bubble is not popping. People are still YOLOing

+1. The market for SFHs are doing great. The market for condos during COViD and post COViD is awful because everyone with a family wants to get out of them into a SFH for space! Home office and pool a plus!

[Anonymous]

7 houses in my neighborhood for sale, most pushing the 3-4 week mark now. A month ago, they were selling in 24-48 hours. I bought in May 2020 after stalking this neighborhood for 3 years. It’s been interesting to watch.

[Anonymous]

Well, two years ago I wanted to buy a house near the beach in Florida for 450 or less. Now, these same 1300sqf houses are selling for 900K.
The one I wanted had a pool, these 900K ones, on the same street, same size, less updated, don't.

[Anonymous]

Anonymous wrote:Well, two years ago I wanted to buy a house near the beach in Florida for 450 or less. Now, these same 1300sqf houses are selling for 900K.
The one I wanted had a pool, these 900K ones, on the same street, same size, less updated, don't.

If the market goes down, Florida in particular is set up for a spectacular crash. Just an unbelievable appreciation. I don't personally see a crash like that coming, and I think the FL boom can be explained by a lot of things, including Baby Boomers retiring. But I don't think FL is a good metric for the rest of the country.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well, two years ago I wanted to buy a house near the beach in Florida for 450 or less. Now, these same 1300sqf houses are selling for 900K.
The one I wanted had a pool, these 900K ones, on the same street, same size, less updated, don't.

If the market goes down, Florida in particular is set up for a spectacular crash. Just an unbelievable appreciation. I don't personally see a crash like that coming, and I think the FL boom can be explained by a lot of things, including Baby Boomers retiring. But I don't think FL is a good metric for the rest of the country.

Hey, I'm in my early 40s and want to move to Florida already... and there are lots of people ahead of me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I've been getting many price drop alerts as others have stated. I there is no longer competition so things may settle down.

Where exactly? Homes are still going under contract in 24 hours in my area

20019 and 20720. Not liked areas for the DCUM crowd, but ones we are looking into.

[Anonymous]

Rates to stay low until 2023

[Anonymous]

when inventory and price are both up, it is not called a "bubble". Instead, this is an indicator of a bull market

[Anonymous]

There is no bubble and just inflation in the housing market. I dont understand that why folks dont understand.

[Anonymous]

I’m not seeing any change in Arlington or McLean. Lots of buyers and not enough inventory.