I know you are probably getting used to the local inventory numbers that I send each week being drastically low, and this week is no exception:
Maybe the shock of just a few houses for sale in each town is wearing off, so now, let's look at the big picture. This is a national sensation--the appreciation of homes can be observed across the country, as we can see in the map below. We can easily predict these numbers are going to rise even more as we look at the first quarter of 2021. 
Some good news this week came out of a "60 Minutes" interview with the chair of the federal reserve, Jerome Powell, who said he doesn't expect interest rates to be raised this year and predicts continued growth in the economy. Another sign that this uber-healthy market isn't slowing down, that’s for sure.
I’ve had some tough conversations with builders the last few weeks who are at max capacity. The material costs, like lumber, are straining costs and margins. Like end-users, they are struggling to find land to build on. It's harder for them to make their numbers meet when building new homes. On the flip side though, renovations and additions are in full swing, so that is keeping builders busy--and homeowners are accepting the rising costs of home renovation. 
Appraisal issues are occurring, but not canceling out deals as expected. Sellers are picking buyers in bidding wars who can cover any appraisal gap. This helps boost prices even higher. I did have one seller adjust his price after the bank appraised his home lower than the agreed upon price tag, but that was an act of kindness to be cherished. You don't see that often now.
Real estate is still a great tool to build wealth and buyers need to get in there and make it happen! You don't want to look back and regret not getting into the game and getting the house you want. I was so proud of my clients this weekend who really stepped up and won a 16 offer bidding war! Say it with me, BOLD and DECISIVE, that's who gets houses right now. 
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