So, do you think we are in a housing bubble?
Thankfully, we are NOT and this comprehensive macro walkthrough of the most up-to-date information regarding the real estate market helps to explain why:
Keeping Current Matters May 2021
It covers the main drivers of the housing shortfall and inventory levels, provides a forbearance update, mortgage rate projections and home appreciation forecasts as well as updated stats on home prices, inventory & buyer demand.
The good news for buyers is that in this “bananas” housing market where we are seeing multiple offers over list price and with appraisal gap guarantees for move-in ready homes, we should see more inventory coming the 2nd half of 2021. The good news for sellers is with an average of 10% appreciation last year and forecasted 7% appreciation this year, average profit has increased by 26%.
If you know of anyone that needs to buy or sell their home, please let me know. Even if they are located outside the state of Michigan, I can refer them to an excellent Realtor via my worldwide network.
Keeping current on what is REALLY going on in the market matters, give me a call or email, I can help navigate this amazing housing market!
