Our Market: Q1 2020 vs. Q1 2021

[Alan Walker]

Q1 2020 vs. Q1 2021: This is an interesting contrast, check out the increase in median home price in Q1 this year versus last and look at the reduction in homes sold this year.
A lot of people talk about a bubble in real estate but what I see is a simple case of supply and demand. We are selling less homes (less homes on the market) with pent up buyer demand from 2020 and the new buyers hitting the market in 2021. Fewer houses + more people looking to buy = higher home prices.
For those of us "waiting for the market to cool down", pay close attention to what waiting is costing you every month, every quarter and every year. 🧐 🧐 🧐