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Reply to "I think the bubble is popping."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Piling on a little, even at the higher end, it seems like things are still frothy/frenzied.... $300K over: https://www.redfin.com/DC/Washington/4801-Rodman-St-NW-20016/home/9946536 $400k over: https://www.redfin.com/DC/Washington/3203-Cleveland-Ave-NW-20008/home/9987925 Again, asking price is somewhat irrelevant, but none of these homes indicate things are slowing down. [/quote] Interest rates are still unbelievably low - have seen 2.5 for 30 year fixed and no points. My guess is that these rates will stay around 3 through next spring as well.[/quote] The interest rates are a big part of the story, definitely. But it seems that the market is a little weird. Lots of stale inventory, some with price reductions, but then some houses going to contract 100s of thousands over in a manner of days. Not sure what to make of it, but I think post Labor Day could provide a decisive moment to better understand the dynamics. [/quote]
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