The August 2022 Real Estate Market

What A wild RIDE!  2020 and 2021 and the first half of 2022 certainly took us on a wild ride.  Exhausting and UNHEALTHY!   Let's take a brief look back:  Sellers were getting 20 offers in 3 days.  Offers were well over asking price.  Buyers were paying 50-100K over appraised values while waiving appraisal clauses. The market appreciated 37% over two years! Inventory was at a record low of a two weeks supply and builders said take a number and get in queue.  NOT HEALTHY BY ANY STANDARD!  Oh, and interest rates will never again be 2.5%.

Not to mention supply chain problems and price of LUMBER up 45% at one point!

my perspective on the market

So let me put this in perspective - in my opinion (having been in the…

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