Many are concerned that we’re about to see another housing bubble, but is this really the case?
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Since 2012, home prices have significantly increased. As this trend continues, many are wondering when it will stop. Is a housing bubble on the horizon?
According to economists, the next housing bubble isn’t expected to hit until 2024. This means there are six years to prepare.
Freddie Mac’s chief economist Sean Becketti has said, “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.”
Other economists have shared similar opinions. Christopher Thornberg, a partner at Beacon Economics, says “There is no direct or indirect sign of any kind of bubble.”
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While we may not be headed for a bubble in the near future, the rise in prices is something buyers are certainly paying attention to. Of course, there’s no way to accurately predict what will happen to our market or our economy.
The rise in prices is something buyers are certainly paying attention to.
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Also, interest rates are going up for the first time in years. You can find more information about today’s interest rates here.
The rise in interest rates is yet another factor that could impact purchasing power, which could cause further pressure on housing prices.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
