The housing market

[George K]

(behind a paywall, so all I saw was the headline an a blurb...)

Apparently half of all US home listings sell within seven days of being listed.

Wow.

[xenon]

@george-k It's INSANITY where I live.

In my neighborhood things last for about a day.

A house 2 houses over was listed for 15% over what it sold for 2 years ago. Then it went for 17% over that list price.

I get about a call a week from random real estate agents just asking if I want to sell my house. Cold calls.

[Axtremus]

I cannot see exactly what the problems are, but this whole thing feels like a bubble.

[89th]

I bought (well, went under contract on) a house without ever stepping foot in it. That was Day 2 of it being listed. We close on 4/16 btw.

My parents listed their house on Thursday 4/1, and were under contract on Saturday 4/3.

Yeah, feels like a bubble. Also is fueled by really low rates, and pandemic-related demand for home changes. Bubble or not, I’m buying for the next 30 years so I’m personally ok with how things shake out.

[89th]

Oh I am paying over ask (only by 1.4%), the people buying my parents house are paying over ask...and they’re also waiving inspection. Insane.