trends, housing-market, real-estate
Data from Google shows searches for the phrase ‘when is the housing market going to crash’ were up nearly 2500% over the past month. People are understandably, searching with concern for the current housing boom. A housing boom in recent memory preceded the great recession.
While people across the nation are searching for answers to the hot housing market, housing experts argue that Americans shouldn’t get too worked up yet.
Economists agree that a cooling in the high priced housing market is probably on the way, but shouldn’t accompany a crash; citing slowing employment recovery, and home prices growing faster than incomes. It looks like current prices won’t last.
Home price growth, and economic fundamentals such as average income need to stay inline.
Though today’s housing market growth offers stark comparison between other historical booms, it’s evident that pandemic related demand, and low interest rates have fueled the rush over the last year or so.
Don’t despair! While the pandemic rush cools down, market demand should adjust to fill the needs of traditional reasons for buying a new home. New milestones go along with new home purchases, traditionally. Now that our largest generation, the millennials, are getting married and having kids, we’ll need to fulfill their home buying priorities.
These times are unprecedented, we’re here to help buyer’s looking for their home, and sellers too. Take a closer look at what economists are saying about the current and future housing market in this article from MarketWatch.
Our Brokerage firm has friendly knowledgeable agents, and Southwest Colorado realty experience spanning decades. In Pagosa Springs, Colorado, count on Pagosa Brokers Real Estate. We’re happy to help guide you through the stages of home buying and selling!
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