The Housing Market: Welcome to Crazy Town
If you were trying to buy or sell a house over the last two years, you know firsthand how turbulent the housing market has been. Sellers were regularly getting more than asking price, often much more. Buyers were putting in bid after bid to no avail. Inspections were waived, all-cash offers were popular, and there was a general sense of mayhem pervading the entire housing market. Cue the tire screech sound effect, because the housing market is definitely cooling off, on the heels of an increased interest rate and looming inflation.