Thanks to just some guy’ for sending in this article comparing prices, rates, and inflation:
It’s a feel-good idea that inflation and lower rates can ease the pain of higher prices. But recent pricing has been really painful for buyers! Let’s apply the data to our local action (using 80% of MSP):
NSDCC Detached-Home Sales, February
It’s a nice idea, and higher rates did cool things down a bit in 2018. But today’s market is so explosive that we are blowing through all the usual stop signs – look at the number of sales!
My guess is that there will be additional sellers pulled forward from future years, just like with buyers – it’s too lucrative and tempting to find a way to sell now. Might it mirror the covid-recovery trend line?