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By Sara Santora
Writer, Trends
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A video that shows an "absolutely insane" crowd gathered at an open house in Raleigh, North Carolina has gone viral.
The video was posted to Facebook on Tuesday by Monique Edwards, who claims to be a realtor and wrote: "Raleigh housing crisis [is] still in full effect!" So far, the post has amassed more than 1.3 million views and over 20,000 shares. Additionally, 8,300 Facebook users from around the country took the post as their opportunity to vent their frustrations with the housing market.
Last year, home prices were "the highest on record going back to 1999," reported CNN, adding that the median home sales price for 2021 was $346,900. These high prices, said Newsweek, were driven by increased demand and low mortgage interest rates.
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To add fuel to the fire, 2021 also saw a decrease in housing inventory. Speaking to CNN, Lawrence Yun, the National Association of Realtors's (NAR) chief economist, said inventory was at an "all-time low," especially for homes in the $100,000 to $250,000 range.
"The upper end of the market is moving along," Yun told the network. "But at the lower end, there is not enough inventory or some homes are being pushed into the higher price brackets."
The home in Raleigh, said Edwards, was priced "a bit above $250K," which is perhaps why so many people lined up to view the property.
"It's absolutely insane," Edwards said of the crowd standing outside the home in her now-viral video. "There are just cars upon cars upon cars, and there are a ton of people that are trying to see this home—this is absolutely ridiculous."
In her video, groups of people can be seen gathered on the home's lawn, in the driveway and on nearby sidewalks.
"Someone stopped me and they wanted to know what was going on in the neighborhood, and I just told them the truth. I said we're having a housing crisis," Edwards added.
As previously mentioned, many Facebook users took to the post's comments section to express their disdain for the current housing market.
"HATE this market," wrote Brenda.
Meanwhile, David said that he "can't wait til this market crashes."
Others were simply shocked to see such a large turnout for an open house.
"Yikes," said Kammi.
"So sad...so so sad," added Jessica.
One commenter theorized that, given its price point and the number of people interested in the property, the home would sell "ASAP." As it turns out, she wasn't wrong. According to multiple reports, the home went under contract within two days of being added to the market and less than 24 hours after Edwards posted her video.
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