It’s understandable why today’s environment feels a lot like the bubble market circa 2006, but there are a few key differences:
Loans are much harder to get today than in the early 2000s. Lenders have raised lending standards and loans are smaller in proportion to house values and borrowers’ income.
In this market, the main factors causing price hikes are tight supply and strong demand, not sloppy lending.
Many think this supply & demand boom has been years in the making. Having overbuilt in the 2000s, homebuilders underbuilt in the 2010s—and now they’re playing catch up.
So while home prices are soaring, the market is less a fragile bubble and more a strong boom. If you’re curious about what buying or selling would look like for you in this market, I’d love to connect. Reach out and let’s talk.