No matter how many markets in which any real estate pro has worked, we always know our home towns best. And my market today is in a situation common to most hot markets in the U.S., shedding light on distorted national housing data.
- Hot micro-markets can generate a very strange picture of average national home appreciation of about 6 percent, made up of many places at zero and a few on fire.
- Every locality reports low inventory, obviously drawn down in the hot places, but the strangest single phenomenon continues: Where is the new construction?
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