Has the market bubble began? What’s next for the real estate market.
As our housing prices skyrocket and demand still remains high many believe the bubble for the housing market is here. But according to Vishwanath Tirupattur, a Morgan Stanley strategist “We have strong conviction that we are not experiencing a bubble in U.S. housing.”
Another source Lawrence Yun, chief economist of the National Association of Realtors®, agrees. He told Axios last month: “This is not a bubble. It is simply lack of supply.”
Statistics are stating this is not a repeat of the 2006 era. Inventory for homes still remains low and lenders are imposing tight restrictions. Which is the total opposite of what happened in 2006. Many homes in the Naples market are closing as a cash deals. Out bidding buyers with mortgage contingencies.
All-in-all as home prices will being to level off at the current pace they are not expected to decline. “We are not at all suggesting that home price appreciation will maintain its current torrid pace,” Tirupattur writes. “Home prices will continue to rise, but more gradually.”
Thinking of selling? There is no time like the present to get top dollar for your property. This is why hiring the right realtor for the sale of your home is so important. My job is to help you each step of the way during the selling process. Achieving the best result and getting top dollar for the sale of your home! Interested in selling? Contact me today!
Source: “Why Morgan Stanley Is Convinced the Housing Market Isn’t in a Bubble,” Yahoo! Finance (May 5, 2021) and “The Dispiriting Housing Boom,” Axios (April 11, 2021)
All my best,