People are leery when the squid speaks, but they could be right about additional price gains in 4Q21.
Here’s why:
- We had a 15% increase in the NSDCC median sales price between September, 2020 and January.
- There will be fewer sales this year, which typically provides more volatility.
- Frustrated buyers will pass on the fixers, and wait ’til next year instead.
- 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!
