With condo prices up in OC more than 26% and 18% for SFR’s over the past year, one has to wonder how much longer this can continue. As I have stated before, small numbers lead to large percentage changes. It is still very important to recognize prices are going up. We all know 20% gains year over year are not sustainable. When you also factor in increasing inventory at a time when there is usually a lull, it makes us question what we know about the market and its cyclical/seasonal trends. Buyers today are jumping on the bandwagon and getting in while they still can. The combination of rising interest rates and prices has many fearing a long, long wait until the cycle comes back again.
