Prices are soaring
In the first two quarters of 2020, real estate prices took a serious hit, as the COVID-19 pandemic sent the economy in a shock like no other. In hindsight, that might have been a good opportunity to buy because since then, real estate prices have soared sky-high, making it almost impossible for many to purchase their dream homes.
In some regions, prices went up by double-digit percentages in only a few short months, leaving potential buyers completely speechless. As of February 2021, the median list prices increased by 13.7% over the previous year. It might not seem much, in percentages, but in real money, the increase is huge.
If you think that what goes up will also come down, then it might be a good idea to wait until this real estate boom calms down.