That’s what we’re seeing here as well. We’re in a new sub, closed June 2020. Homes are going on the market near the 1 year resell date. A lot of investors renting them out.
We have a niece in the Raleigh area who bought last fall, her old home went within hours to a Texas investment company, way over asking price.
It’s not surprising here with the military presence, but low inventory on houses.
At the same time, I was seeing the same thing in Michigan. We sold our home in Farmington Hills in March 2017 and rented in preparation for our move south. Our apartment rent for a 2 bedroom 1800 sq foot place in Commerce Twp went from just shy of $1400 to over $2000 if we had renewed in 2020. That’s higher than what our mortgage was for a 4 bedroom in FH.