Housing market stabilizing?

Okay, “stabilizing” might be a bit strong but a certain equilibrium seems to be finding its way into the real estate market. Housing permits. starts, and completions were all up significantly in June, even as April and May saw completions beating expectations by as much as 16 percent.

In addition, higher offers in bidding wars decreased by 10 percent in June as compared with April.

Analysts are hopeful that the combination of lower demand and greater supply will gradually ease home prices without a sharp rise in interest rates.

Where is the housing market headed?

Green Escrow | Real Estate News

The times are certainly unprecedented: low interest rates, rising home prices, and all the uncertainty swirling around the economy as the country eases out of the pandemic into – what?

Many are beginning to foresee high inflation, rising interest rates as the rich get richer and many middle-income families are taking on too much debt. Will millennials ever be able to afford a home?

Many are concerned that the current housing boom is being driven by speculation; investors convincing homebuyers that they can afford the houses they are buying at exorbitant prices.