Why Is The Market So Competitive?

Why is the market so competitive? Why are prices going up?

This is one of the reasons. We love the boomers but they own a lot of homes, and they are staying in them a lot longer than we expected. While we thought they would downsize and go to condos they are living healthier and longer lives and staying in their homes.

And with that, there is a lack of resale homes becoming available on the market, and that leads us back to the supply vs demand conversation. With a lack of supply and high demand, the prices go up.

It is interesting how so much plays into the market and how it behaves, and this is just one piece of the puzzle.