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Updated almost 4 years ago on . Most recent reply
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What does a 'hot' market mean?
Simple question looking for a simple answer. I keep seeing people say the market is hot in regards to their local real estate market. So what do they mean by this?
I'm Gen-Z, so I feel like I should know most codewords but....LOL !! Maybe someone can help?
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![Damaso Bautista's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/951477/1621506144-avatar-damasob.jpg?twic=v1/output=image/crop=824x824@0x1/cover=128x128&v=2)
Hot Market is when a property goes up for sale for $650,000 and is contingent in hours for $850,000 with multiple offers on the table.
That is a hot market!
I am using Los Angeles California numbers but you get the idea.