Housing Market: Healthy Growth, or in a Bubble?
The housing market has been on such a tear lately that grumblings about another housing bubble are already starting. Home values rose almost 6 percent from February 2012 to February of 2013, marking 16 straight months of gains.
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According to Yahoo, online searches “real estate listings” are up 256 percent, and searches for “home values” are up 158 percent, compared with a year ago.
Rising home values will free many more homeowners from negative equity, allowing some of them to list their homes for sale which, in turn, will ease supply constraints, according to online real estate database, Zillow.com. This deeper pool of available homes for sale may entice more overall buyers into the market.
As we move forward in to 2013, Zillow expects prices to rise in the 3 percent range, which is considered a healthier, more sustainable average.
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