People are leery when the squid speaks, but they could be right about additional price gains in 4Q21.

Here’s why:

1. We had a 15% increase in the NSDCC median sales price between September, 2020 and January.
2. There will be fewer sales this year, which typically provides more volatility.
3. Frustrated buyers will pass on the fixers, and wait ’til next year instead.
4. With the sales mix having a bigger percentage of superior homes, pricing should get a boost.

My #1 reason?  We’ve experienced intense frenzy conditions, and it has gotten to the point where the comps don’t seem to matter any more. Buyers just want a house, and they will pay whatever it takes!