Toilet Paper and Real Estate?
Two years ago, I spent a ridiculous amount on toilet paper in one day. I don't think I'd ever spent that much on toilet paper before. But honestly, homes today here in the West Orlando area are kind of like toilet tissue in 2020.
It was a tricky business then, finding toilet paper in stock! During that same time, toilet paper sales surged 734% nation wide. There was just a blistering change in demand. And if you had an extra roll to sell, you could, at the time.
Let's get to the core of this apple... If you’ve bought a home in the last 3 years, it’s statistically safe to say that it’s now worth about 45% more today. That’s an unprecedented appreciation rate (in a normal market, it hovers near 4% appreciation at best, year over year). There has just been a rapid change in demand in the last 2 years & not enough homes for sale. It’s simple supply & demand, NOT 2008.
NOW, our market is starting to shift back to “normalcy”, and prices will start to level out...and we may go back to waiting 30 days before a home sells.
But if you're a homeowner, the math still works in your favor.
We’re still in a shortage and you’re holding the toilet paper everyone wants.
Give me a call if you're curious about what your home may be worth! You may be surprised!