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Originally Posted by SilentKnight
Real estate is booming in our area lately....big time. Houses comparable to ours on the street are going for 60-80k higher than what we originally paid for ours 5 years ago. For a small town with a lacklustre economy - that's pretty good these days.
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Yes, booming over the last 5 years. But no market is heading north these days. Everything is correcting itself. You see reports on median prices going up, but that's year-over-year which doesn't mean squat when looking at today's market. Inventory is what needs to be looked at. San Diego just set a new record for the most number of homes on the market EVER.