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Subject Expert
A lot of people who were almost ready to buy in late 2022 have been hoarding cash once interest rates started climbing and now are jumping back into the market. If a family is growing and needs extra space, they may not be able to wait much longer. There’s also a lot of companies who are relocating to Texas to get out of California, which leads to a lot of people who have equity in their houses and can bring that equity with them to Texas.
Also many people who have been investing in the stock market are up over the last 2 to 5 years.
I wouldn’t be surprised if many of these houses have multiple bids.
Lots of ppl have cash and in reality there are a significant number of ppl employed at high paying jobs or have capital from other means (the stock market is at all time highs/crypto almost at all time highs so not too difficult to figure out)
A LOT of people have 400-700K cash to bid on overpriced homes in not so happening areas. Wow
Coach
Could a realtor lie, sure. The chances are never zero.
They would be risking their license if they got caught though so chances are they are probably not.
Like others have said many buyers have been saving cash looking to buy. Demand has been compressed for the last couple of years.
Also, just because you deem it dull, doesn’t mean others don’t have a better outlook on the area. What you deem dull and boring could be the perfect quiet neighborhood others would love to raise a family in.