Posted 1/7/2024, 5:16:03 PM
Red-Hot Housing Market Leaves Buyers Frustrated as Prices Soar, Bidding Wars Erupt
- Extremely competitive housing market with homes receiving multiple offers over asking price within days of listing
- Prices have risen drastically in recent years, with homes now $50k+ over what they sold for just a few years ago
- High interest rates making monthly payments unaffordable even for dual income households earning near $200k
- First time homebuyers priced out of the market and unable to save enough for downpayments
- Those who bought pre-pandemic locked into low interest rates, making it difficult to move/trade up