abcnews.go.com
It's being driven by people who used to live close to work being freed to work from home, meaning they no longer have to live in a small house close to a big city, or live in a city they don't like just for work.
Actually talked with a real estate agent some months ago. The reason is more like "tons more people are working at home, realizing where they live doesn't matter, so they're moving to where they'd rather be."
Yup, I'm a couple years older and I'm resigned to the fact I'll never own a home. It is what it is.
my wife and I just bought a house right outside the city. The market sucks so much. Prices are insane and buyers are waiving shit left and right just to get a place. One house we put an offer on got nearly 50 offers!
When my parents sold their house on the north shore a couple years ago to move to Florida they had one open house and got 25 offers, most of which were above asking price. There were people willing to waive basically everything. I'm lucky in which my job seems to be turning into a remote gig and I could live anywhere, but my girlfriend doesn't have that luxury.
Probably widely varies based on the area, but just in my experience looking at places around the Boston area, we were regularly going 50-70K above asking. And most of those were rejected in favor of higher offers lol.
Yeah it's pretty insane. In hindsight our process was much shorter and not as exhaustive as it could've been, and is very for many people. But it's wild what buyers are getting with right now, and what sellers are willing to do. I was in line for an open house a few weeks ago and heard a realtor talk about one couple that was just so burned out, they bought a place on the south shore totally sight unseen.
