Highlands NC Real Estate, Is this a Bubble?
Many people looking at Highlands NC real estate are asking, is this a bubble? Home values have been on the rise and this is a reasonable question. After all, the recession and crash of the housing market were not that long ago. Furthermore, this is not an experience that anyone wants to experience again. Nationwide home prices increased an average of 17.2% this past year, a huge increase. An experienced Highlands NC REALTOR has her fingers on the pulse of the market and is a great resource with whom to discuss local values and concerns.
Is a crash on the horizon?
Recently economists have been weighing in on real estate and addressing concerns of a crash in the market. Overall, the sentiment is that the current housing market is different from the crash that occurred in 2008 and 2009. Property values are rising because there are more buyers than sellers. Basically, supply and demand is driving home values upward. However, home values are not expected to continue to rise at such a quick pace and the market is expected to stabilize. Values are expected to continue to rise but at a far more reasonable rate. The industry believes that prices are more likely to go flat than drop significantly.
Other indicators for stability
Another key ingredient that separates the housing crash of 2008 and 2009 is the mortgage industry. The poor lending practices that were in effect prior to the crash of the housing bubble are not in effect today. The economy is also seen as strong and gaining in strength. Stricter lending guidelines and low rates are helping support today’s market.
Learn more about Highlands NC real estate
Contact me, Lynn Kimball, today to learn more about buying and selling homes in Highlands NC. I welcome the opportunity to update you on the market and discuss any concerns you may have. I make it my mission to keep my fingers on the pulse of the market. Let my knowledge and experience serve as your guide to Highlands NC real estate.
Click here to read “Home Prices Have Hit a New High—Is the Housing Market About To Crash?” from REALTOR.com.