Also, still many buyers migrating from out of state.
I very recently appraised a home that was under contract for $680,000. My appraised value was just under $600,000. The buyers threw in another $85,000 cash to close the deal and bang, we have a new value ceiling in that county...
Buyers were from CA.
It's absolutely insane.
sellers aren't even looking at offers that don't have appraisal gaps written in.