The Phoebe Files | What’s Driving this Insane Real Estate Market


Your Weekly New England Real Estate Conversation

Phoebe Schreiner, our Real Estate and Lifestyle expert, answers your questions about the Connecticut and New England real estate market, along with other great coastal finds and designs. Take a scroll to see the latest Q+A on The Phoebe Files.

Dear Phoebe, This Real Estate market is ridiculous. What’s driving all this insanity?

Phoebe Says:

Great question Ellen.  These are probably the top questions my clients are asking me at the moment.  Along with “how high do I need to bid over asking price to get this darn house?!” 

There are several factors driving the frenzy and high prices seen in this market; all of which are common across the US.  

Here are four big ones: 

  1. Interest Rates: Rates are at an ALL TIME LOW.  Quite literally, there has never been a better time to borrow money which is encouraging everyone and their Mother to want to buy a home.  With mortgage rates in the 2-3% range, borrowing money is a no-brainer.  Low rates expand the consumer buying population.  More Buyers = more competition.
  2. Renters Want to Settle:  This ghastly pandemic has offered us a few silver linings, one of which is people have been reminded that home is where the heart is. As cliché as that sounds, when you’re bound to your home 24/7, you want to like it and Renters are eager to set down roots and create a home of their own that has more than 4 walls and a few windows. They want yards, room to expand, a home office space AND a gym for their Peloton.
  3. WFH: Chances are you can name at least a dozen friends who are working from home.  These are people who never would’ve had that opportunity in the past. This shift has been a game changer for home buying.  Buying your own home is a smart move when you can borrow the money for almost nothing and work anywhere you want!
  4. Rainy Day Fund: Turns out there’s only so much on-line shopping you can do.  People are also saving a fortune not eating out and cutting back on commuting expenses working from home (see above!).  They’re putting that money into savings and investing on things like a home. 

Fun Fact: even with low interest rates, we’re seeing more homes purchased in cash…which is a good thing.

These are just a few of the factors driving the market chaos. Wondering how long it will last? We’ll talk about that next week! Stay tuned.  

got a real estate question for phoebe?

Have a question for me? I’d love to hear from you. Just hit that the ASK PHOEBE button below or email me at And be sure to follow me on Instagram @phoebeschreiner for all things Real Estate, New England, Design and Living on The Shoreline.

From My Nest to Yours,


• about the author •

Phoebe is an award-winning real estate agent who is a lifelong New England resident.  She currently lives in a 1790’s farmhouse on the Connecticut Shoreline with her two teenage daughters and husband. She’s known around town to be the go-to for anything Real Estate, local hot spots as well as handing out tips on her design knowledge.  

Phoebe believes everyone should love where they live, and she’s deeply committed to elevating her client’s real estate experiences. Nothing gets her more excited than helping someone buy their first home or sell one they’ve happily lived in for decades. 

As a realtor, she services all of CT and specialize in the Shoreline area including Madison, Guilford, Branford, Clinton, Westbrook, Old Saybrook, Killingworth and Haddam, but knows all of Connecticut well, being a lifetime resident. 

Phoebe is passionate about design and is constantly offering creative and sustainable decorating solutions to friends and clients.  She has a collaboration with the online Auction website,   @auctionninja and has been chosen to be their Guest Curator.  Phoebe also has a weekly article on  called ‘The Phoebe Files’ which focuses on all things Real Estate.

When not working with clients, you can find her on the yoga mat, riding a horse or sipping coffee at East Wharf Beach.