There has been talk around the housing and mortgage industry that there could be another housing bubble, but Ten-X EVP Rick Sharga recently said that not the case.
“We're definitely not in a bubble. We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but the fact of the matter is, while prices nominally have surpassed the 2006 peak, we're not talking about 2006 dollars,” Sharga said. “We've had nine years of inflation to factor into home prices today...and, in fact, if you really dug into the analysis what you would find is that home prices today have basically recovered to about where they were in 2004."
Sharga will expand on this idea in Ten-X’s mid-year housing webinar next Tuesday along with current trends in home sales, pricing, inventory, and more; real estate market driver for the remainder of the year; housing market expectations and forecast for the fall and beyond; and what to expect in the mortgage market.
The webinar will be conducted on Tuesday from 10-11 a.m. EDT. To register, click here.
Other Events in the Week Ahead:
FHFA House Price Index, Tuesday, 9 a.m. EDT
Apartment List Report on demographic differences in homeownership, Wednesday, 7 a.m. EDT
New Home Sales Report, Wednesday, 10 a.m. EDT
Existing Home Sales Report, Thursday, 10 a.m. EDT
Janet Yellen Speaks at Federal Reserve Bank of Kansas Citi Economic Symposium, Friday, 1 p.m. EDT