MARKET & TRENDS
PRICE AND POPULATION
Twin Peaks PRICE AND POPULATION PEAKS IN VARIOUS MARKETS COINCIDED.
By Ingo Winzer
ome prices go with the flow. The flow of population, that is.
when nobody wanted to sell their house, but a few people very much wanted to buy one. In this very thin market, prices were quickly bid up, prompting more buyers to jump in before prices rose even more. The cycle created a classic boom of epic proportions.
What happens now? Prices will come down. It’s as simple as that. Although prices are already lower in some markets, they remain strong in places such as Florida and South Carolina. When will those prices soften? It’s largely a matter of timing.
H
We could also call this Twin Peaks because the height of the recent home price boom seems to be a twin of the height of population growth. The boom sprang from the special circumstances of the pandemic
52 | think realty magazine :: september – october 2023
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