Reply to I think the bubble is popping.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have a family member that just got outbid after going $50k over list for a house between Clarksburg and Frederick.  It wasn’t a particularly lowball list price based on comps. It may not be frantic, but it is still nutty out there.[/quote]

Yikes, that’s bad.  My guess - total guess- is that while there is a frenzy now, there are a LOT of buyers sitting this year out because of the nuttyness and hoping/expecting the market to be much friendlier to buyers next spring/summer.  I think we’ll again have a supply/demand issue next spring especially since rates will still most likely be in the 3s.[/quote]

If you think a lot of buyers are sitting it out this year, that means next year is going to be nutty to because "a lot of buyers" that sat it out will be competing next year.  The actual problem, if you can call it that, is that Millennials are home buying age right now.  There are a lot of them, they're the largest demographic in the country and we didn't build enough homes after the crash.[/quote]

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