The 2020 market has leaped out of the gate. Typically we don't see a whole lot of activity before the Super Bowl, but this year it's a hot seller's market even in January. It's always been about supply and demand. It doesn't matter if houses are ridiculously high in price if there are people out there who can afford to buy it which there are.
If you look at the chart you can see how many people are employed out there compared to 2010. What we have are few houses to sell and a ton of buyers who want to buy and can afford to buy.
As long as this keeps up, home prices will continue to rise just short of a major catastrophe. Because wages are only keeping up for these fortunate buyers who have lots of money to throw around, it creates more pressure on those owners, buyers and renters to survive on their less than liveable income.
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