SUMMER 2021 AND THE LIVING IS EASY!!

Selling your house? It generally takes just a couple of weeks and often days to find a buyer. From listing to contract, homes basically sold in less than 20 days in the month of April. (the fastest rate ever in most markets) Most new buyers come to see they made the right decision when they jump into the market pool to be aggressive and competitive and make an offer over list price.

Could this all crash as it did in 2008-2009? Probably not. The current housing cycle is very different. There are no more risky subprime mortgages that overstretch a buyers budget. The loan police at banks, mortgage brokers, and government regulators demand that loan to value ratios, debt to income, and proper documents meet new guidelines before buyers get the go ahead. Secondly is the inventory. The serious lack of inventory is why home prices are in no danger of falling sharply. Home building activity has picked up this year but it will take a few years to correct the supply which is 4.8 million homes below the norm.