The housing market is not even close to forming a bubble, and recent developments have further diminished the likelihood that it will overheat anytime in the near future, Trulia said in releasing the results of its latest Bubble Watch report.
“Even though prices are less undervalued than one quarter ago, our chances of avoiding a bubble have gotten better. Price gains are slowing down, and asking prices dropped in July,” said Trulia Chief Economist Jed Kolko in an email. “Unlike in last decade’s bubble, prices today have started to cool before reaching dangerous heights.
National home prices in the third quarter of 2013 are 5 percent undervalued, compared with 7 percent undervalued in the second quarter of 2013 and 14 percent undervalued a year ago, Trulia reported.
How does that stack up against home values at the peak of the housing boom?
Prices then were 39 percent overvalued, according to Trulia.
– See more at: http://www.inman.com/wire/are-we-in-a-bubble-yet-not-even-close-trulia/#sthash.RY1QXM09.dpuf
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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