Reply to I think the bubble is popping.

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Reply to "I think the bubble is popping."

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[quote=Anonymous][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]

DP market will be hot after Labor Day. Those that didn't give up after failing in the spring market will be joined by everyone who decided to wait it out until the fall, plus everyone who would normally start searching in the fall. Everyone will be back from vacation. Not sure what will happen with inventory though.[/quote]

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