As professionals in the real estate market, we get asked this particular question several times each week. So we thought we would put some critical data together, share our opinion on the housing market, and answer that question.
Question: "Are Rising Home Prices Sustainable or Will We See Another Crash?"
Here are the data points we will need to discuss to determine our best course of action.
Appreciation - shows the increase of the value of a property from a monthly, quarterly, and a year over year adjustment.
Forecasts - opinions from national real estate experts if properties keep increasing, slow, or plateau out.
Supply & Demand - shows the data related to how many buyers to sellers are present in the housing market.
Affordability - is the measurement of a home's price to a consumer's income earned, shown in an affordability index.
Last Crash in 2008 vs. 2022 - comparing what drove the last collapse time and how we compare now.
We've added some additional video content to help show the numbers with your situation within the housing market.
Video 1 - Where we were, where we are at now, and where we are going
Video 2 - Rent vs. Own - a side-by-side comparison of the two options.
Video 3 - Move- Up - lays out details, strategies, and thoughts on moving up.