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Pandemic “Panic Buying”?

I would be interested to see the data of YoY home sales for the last 3-5 years. It certainly does seem like a buying frenzy right now, but I just don’t know if I believe what I’m hearing that is comparing home purchasing right now to the likes of toilet paper hoarding. I’m sure a lot markets are seeing a crazy sellers market for the first time or very suddenly which may lead some to believe it is truly a movement of panic buying.

However, in the market I’m looking at (Denver/Boulder), it was hot before the virus with what I imagine is a history of steady increases in demand YoY.

I’ve been hearing the term more frequently in the last couple weeks. People have told me I’m panic buying as I am on the hunt and am looking to settle on a house that, yes, needs some work and, yes, seems priced high (until you look at comps) but is in a solid area and has great bones. Granted I started the search over 6 months ago...

Where I’ve seen the term published: https://www.westword.com/news/denver-housing-market-panic-buying-11782322

submitted by /u/ratchet_spaghettio
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source https://www.reddit.com/r/RealEstate/comments/ijwz52/pandemic_panic_buying/
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