There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist … [Read more...]
Two Reasons Why Today’s Housing Market Isn’t a Bubble
You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate most experts don’t think that’s the case (see graph below): As the graph shows, a strong majority (60%) said the real estate market … [Read more...]
Welcome to the New Normal and What’s Next?
A recent survey of over 100 market experts and economists still predict home prices to rise for the next 4 years. Even the most pessimistic are saying prices will rise over the next 4.5 years by almost 10% A recession is not necessarily bad news for home prices at 4 of the last 6 recessions saw price increases. And the fifth saw a nominal decrease. Many are comparing this coming recession to the ones in 1980 and 1981 in which we see the number of sales decrease dramatically but … [Read more...]
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