Far From a Housing Market Crash, Home Prices in Seattle are Expected to Rise 18% Over The Next Year.Posted by Cary W Porter on
The flaming-hot housing market has seen median home prices soar an unprecedented 24% since the outbreak of the virus last year. But in recent weeks, that fire has lost some of its heat as buyers finally start to push back at sky-high prices. Simply put: The housing market is slowing a bit.
Already, a growing list of doomsayers point to the shifting market as taking us one step closer to a bursting housing bubble. In their minds, housing went up too fast and now must come back down.
But what does the data say? When you look under the hood, the run-up to 2008 housing bubble and the hot 2021 housing market are very different bull markets. While there are several reasons why our latest frenzy won’t result in a bust, there’s one reason in particular…
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