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Are we in a housing bubble?…

Conor J. Green Real Estate Investment

Written Nov. 10, 2021 by Conor J. Green

In 2021, we’ve seen incredible home price appreciation. According to the latest Home Price Index from CoreLogic, home values have skyrocketed by 18.1% compared to this time last year.

Credit to Keeping Current Matters

While everyone seems to have an opinion on whether the housing market is going to absolutely plummet or soar, let’s focus on what the experts and the data have to say.

Expert Opinion #1

According to the Joint Center for Housing Studies in their The State of the Nation’s Housing 2021 report:

Expert Opinion #2

The Chief U.S. Economist at BBVA, Nathaniel Karp, says:

Expert Opinion #3

If we look to Mark Fleming, Chief Economist at First American, he says that:

Conor’s Conclusion

To compare the current market to 2008 and argue that there is going to be an equivalent collapse has no data to back it as of yet. While we have had an incredibly crazy seller’s market and are starting to see a little bit more inventory hit the market and some buyers leave the market due to multiple-offer fatigue, it’s only shifting slightly towards a more balanced market. We are still a far ways away from anything close to a “balanced” market where it neither distinctly favors the buyer or the seller.

My prediction is that we will continue to still see a very hot sellers’ market moving into 2022 and throughout 2022. Rising interest rates, increased inventory, and reduced buyer demand will slow the market down to more reasonable and sustainable growth.

Conor J. Green Real Estate Investment

About Conor

With local knowledge of the Tampa Bay area and a deep passion for real estate, I’m incredibly grateful to be able to utilize both daily for my clients. Absolute nerd when it comes to real estate; would love to chat with you about any topics or questions you have!

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