Are we in a bubble? Over the summer it seemed everyone was speculating upon whether or not we are in the midst of a housing price bubble. It is too early to predict a market shift in residential real estate, but there are some common indicators that contributed to the previous market crash rearing their heads again.
Wage increases have not kept the same pace as home prices, leading to affordability concerns - particularly with lower-priced homes. Additionally, predicted interest rate hikes will continue to affect borrowers’ buying power.
On the other hand, demand continues to outpace the supply of available homes in many markets. This trend leads to increased prices overall. Median Sales Price of…