My theory on this, is that today’s buyers are qualified buyers and many times, we see all cash, at all price levels.
The bubble had a lot to do with funny money, which is absent this time.
From DS News
While home prices are rising today nearly as fast as they did during the peak bubble years of 2005 and 2006, Trulia reassures bubble-phobes that they can rest easy in its latest report. According to Trulia's findings, home prices are still 7 percent undervalued nationally, having come down from a peak of 39 percent overvalued in 2006. After the bubble burst, prices fell to being 15 percent undervalued at the end of 2011. With prices still undervalued relative to fundamentals, Trulia insists that today's rapid improvements still qualify as a rebound, not a new bubble. » Read More
- Sunil Sethi
To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App".