Sounds crazy, but the hottest housing market of our lifetime could crank it up even more! What’s driving the skyrocketing prices, and is there any end in sight? For answers, Capital Rivers President Greg Aguirre calls on Sacramento business leader, entrepreneur and former home builder Bill Niemi. With 40+ years experience in real estate, Niemi explains the once-in-a-lifetime factors that are fueling record prices, why there won’t be a bust this time, and when we can expect the market to settle down.
Sacramento’s hot housing market is facing skyrocketing prices, increased demand and ever-diminishing inventory, as are many U.S. cities this year. Bill Niemi, CEO and chair of Vistage Worldwide, has been in the residential real estate industry for four decades, and says he has never seen anything like the current cycle.
“We have less than half a month’s supply of housing, which is the lowest number that we’ve seen in decades,” he says in this podcast conversation with Greg Aguirre, president and CEO of Capital Rivers.
“Home prices have increased from 18% to 25% year over year, which is crazy,” says Aguirre. “But what I found interesting is that the median household income is not going up at that same rate.”
In this podcast, Niemi and Aguirre dig into what’s driving Sacramento’s current residential real estate market.
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