Back to 2019?

It’s time we go back to 2019. Every meeting I go on I get asked, “how’s the housing market?”. My answer is usually the standard “down from where we were late in 2021 and early 2022. But that wasn’t sustainable.” 

The reality is, the covid pandemic put the housing market into a snow globe. Shook it up and as a result record low interest rates, remote work, and a free Florida. Next thing you know, a house would hit the market and if you didn’t submit an offer in 24 hours you’d have no shot. If you read last week’s article you learned that Florida, more so than any other state.  Have had more people moving to it than from it during the pandemic.

Florida was insane, and now we’re going back to normal. I remember graduating college, moving to NYC, and going to a bar for a beer being charged $5 and thinking… this is just one beer? In college this was the cover charge for as many beers as I could imagine. College wasn’t normal and neither was the 2020-2022 housing market.

But what does normal look like?