If you’ve been talking to realtors, then you already know that the housing market – from new-builds to rentals – is on fire once again. They’re coming out of the woodwork with all-cash offers, topping the asking prices and jamming the Open Houses.
This morning we got some data to back up the obvious anecdotal stuff I’ve been talking about. Home prices have just risen by 10% this past month. This is the biggest year-over-year jump since April of 2006 – seven years ago!
Here’s a chart I just stole from Lil Weezy to give you some perspective on the comeback: