But some of the more outlandish home buying anecdotes may not repeat themselves; there might be closer to an average of six to 12 offers per property, at 3% to 5% over the asking price.
The difficulties in securing single-family properties have seemingly pushed many toward townhouses and condo units, for which sales were up almost 11% in August versus the same month in 2020.
While the definition of an "older home" is hard to pin down, in general, a home built before 1978 will have lead paint, and heating and cooling systems that may be in need of upgrades.
While the nation as a whole saw seriously underwater properties decrease by more than 37,000 from the first quarter of 2016, New Jersey experienced a jump of more than 8,800.
A sharp 12.8 percent decline in construction in the Midwest and a 3.7 dip in the Northeast propelled the broader decrease, with construction also falling in the South. It was nearly unchanged in the West.
There's a dark side to those delightfully low gas prices: Housing markets are slumping in communities that were recently flush from the U.S. shale oil fracking boom.