Welcome back to my video blog. As many of you may have noticed, home prices have been on the rise. How long will this last?
That’s a good question. First, it’s important to know why it’s happening. Currently we have an unbalanced market. The demand for homes outweighs the supply. This is especially true in popular neighborhoods.
It isn’t uncommon for some homes to receive up to 20 offers. When multiple offers are received on a property, the price gets bid up.
We can expect prices to drop once more homes come on the market, but we aren’t sure when that will be.
If you have any real estate questions, please give me a call! Thanks for watching!