How's the Market offers the latest analysis of the over the mountain real estate market from veteran real estate professionals Mike and Hayden Wald. Each week they'll share their insights on trends in the local housing market including, inventory, pricing, interest rates, and more.

An article in today's Wall Street Journal citing the Case-Shiller Index, stated that U.S. home prices are increasing at the fastest pace in 15 years! The price increases reflect how fiercely buyers are competing for the limited number of available listings.

According to the article, "A number of forces have merged to fuel the red hot housing market, including mortgage rates dropping below 3% in July for the first time ever. Millions of millennials in their 30s. New-home construction has lagged behind demand and homeowners are holding on to their houses longer. At the same time, the pandemic worsened the already severe shortage of homes for sale. Low interest rates prompted more homeowners to refinance and stay put instead of moving. Others delayed…

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The following is from an article that appeared in Over the Mountain Journal on March 11, 2021

In what ways has the pandemic affected the OTM real estate market?

The biggest impact from the pandemic is that it exacerbated the problem with low inventory. More sellers have been hesitant to list. So, prices in Mountain Brook, Homewood and Vestavia have increased at a faster pace than they would have otherwise. Those markets are so competitive that listings price appropriately and in good shape are getting multiple offers. Often, winning bids are significantly above asking price and some buyers are even waiving their contingencies on financing and inspections.

Over the past 12 months, have you seen any changes in what buyers are looking for?

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2200 Shady Dell Lane. Just sold with multiple offers for $31,900 over asking price!

Situated on an oversized corner lot, this stunning Mid Century Modern home is main level living at it's finest. 4 bedrooms, 2 full bathrooms and a spacious, updated eat-in kitchen, featuring quartz countertops, vaulted ceilings and ample cabinet space for storage are just a few of the amazing highlights this home has to offer. Enjoy an abundance of natural sunlight from the tall windows that accent the interior of this home. Roomy master suite features split closets and beautifully renovated en-suite. Enjoy entertaining family and friends on the spacious deck that overlooks a large backyard with mature landscaping. Gleaming hardwoods, sizeable main level laundry,…

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