Hat tip to Ryan for his excellent job documenting the real estate frenzy underway in the Sacramento area:
http://sacramentoappraisalblog.com/
Susie says the Boise market is on fire, Noodle said that every house in North Phoenix sells in 3-4 days, home prices in Austin are similar to what they are here (according to one buyer) and even Kayla is seeing multiple offers again in Manhattan!
The potential sellers here who want to list their house for sale so they can leave the state have to be concerned about buying their replacement home, if they haven’t bought one yet.
How many will give up and say, “heck, it’s better here anyway”, and pack it in, instead?
Will a surge of supply over the next 3-4 months – when we need it the most – be stymied because of the difficulty with buying a home elsewhere?
As crazy as it is right now, it could get crazier! It probably will!
