If you're on the hunt for a new home (or a second home), then you understand how bizarre the U.S. real estate market is right now.

If you're one of the lucky people to have bought real estate pre-COVID and blissfully unaware of the state of the market right now, let me paint a picture for you:

• Between April 2020 and April 2021, median house prices rose 19% to $341,600
• Over half of home-buyers are putting at least 20% down, the highest in history
• Since January 2020, 1,500 homes in Austin, TX sold for more than $100k over asking (72 of which sold for more than $300k over asking)

This is a small glimpse of the insanity of the current real estate market in the U.S. While this is great news for sellers, it's not great news for buyers, especially first-time home-buyers. 

So what is going on? What caused this madness?

Find the blog version of this podcast at LuminaryWealth.com
Or check out the video version of this podcast on our YouTube channel
Follow us on Instagram @luminary.wealth
Let's connect on LinkedIn

Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation.