You might be shocked to hear real estate prices in our area are up 5-10% since the beginning of December. Almost everyone who is calling me right now thinks their home is worth $50,000-$100,000 LESS than what it would sell for today. Today, someone asked me what has caused prices to go up. There are many factors and I thought I would share what I told her with you.
- Record low inventory of homes for sale. Many potential sellers decided to hold off on selling last year. We have a dramatic inventory shortage of homes for sale.
- Few new homes available. In many neighborhoods you couldn’t buy a new home if you wanted to build. They are completely sold out of lots.
- Tesla, Oracle and Apple building coming to life. The surge of buyers…
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