New to posting but have been following this forum for a year or so. Was planning to move to SD before I had to delay it for personal reasons last fall, hoping to try again in the next few years.
Before we decided not to move we saw some houses in the fall and all the realtors said we could bid 100-200k under asking and have the offers accepted. They were probably right because most of those places stayed on the market for the whole winter. Fast forward to today, though, and all of those houses are under contract or sold without any price decreases and places still seem to be moving at about the same prices, now just with a 7% interest rate.
So I don’t believe the doom and gloom in the press about a housing collapse, people leaving the area, etc because the supply is so low that prices are not going to fall. I know most of you here are already property owners but man, as an outsider it looks almost impossible to break into the market even with a really good salary.
