The housing market is white-hot right now! Home prices are way up over last year, and 50% of homes are selling for more than the asking price — $20,000, $50,000, even $100,000 or more in some cases.
That’s when demand causes home prices to jump so high, so fast, that buyers can’t keep up.
Plus, a lot of the buyers are moving to areas with a much lower cost of living, so they have the cash to make these wild offers on the homes that are available.
This is great news for sellers! With more motivated buyers than sellers, competition is fierce, and sellers have the advantage.
While home prices have exploded nationwide, every market is different, so be prepared for just about anything.
Dave Ramsey is CEO of Ramsey Solutions.