A lot of folks here are boomers using the opportunity to downsize. They are selling their 1500 sf ranch with dated kitchen and furnishings for $750K and buying a condo in FL or some other retirement state for $150-200K and banking the rest. I have two older neighbors on my street who have done this in the last 2 weeks. One house some for $140K over asking price.
This latest rise is just incredible and unbelievable.