Quote:
Originally Posted by scryer
The sudden surge in home purchases across the board just don't make no sense at all and I don't believe in coincidences when it comes to the RE industry. I simply cannot be convinced that the majority of people who make under 80k+ a year were sitting on a pile of cash - or that their relatives were sitting on a pile of cash waiting to dole it this summer of all times.
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Your conspiracy theory - whatever it is - doesn't really relate to what happened though. Just over 3,000 houses and apartments sold in a month, after two months with lower than average sales numbers. Many of the buyers will have sold a property in order to buy. Some will be trading up, some will be downsizing, some will be first time buyers. There are several hundred thousand households in the REBGV area, and more than half those households are homeowners. Three thousand sales is a tiny proportion of the total properties, and doesn't require people earning under $80K to be sitting on piles of cash.