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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