This Housing Market Is So Hot That Buyers Are Offering $1 Million Over Asking Price

Buying an income property can be a smart move for real estate investors -- except when demand is so high that the premiums homes fetch are so ridiculous it's hard to imagine how they could make financial sense. Such is the case in the San Francisco Bay Area today. In fact, the median sale price for an existing single-family home rose 16.2% year over year during 2021's first quarter, reports the National Association of Realtors (NAR).