Many people today are wondering if the Housing Market is in a Bubble. Around 60% of the Housing Experts say it is NOT in a bubble and here are the reasons why.
- Even though inventory is LOW, we still have a nationwide 6 months supply of homes on the market. Talk with your Realtor to get a better idea of what the supply is in your community.
- Homes are going on the market every day which is good.
- Also, mortgage companies lending standards today are tighter than in previous times and many lenders are offering incentives to homebuyers to keep the market as strong as possible.
- Homes are still selling but there are some that believe we are correcting the market and moving into more of a Buyer’s market. The biggest question is when most Buyers will see this change.
- Even though the prices are higher, we are starting to see homes on the market longer and many Sellers are motivated to negotiate.
Recommendations are to watch the market in your region and keep in touch with your realtor for more information if you want/need to sell or buy in the coming months.
The attached link gives you much more information to help you understand the market and how it could affect you and your family.