So what’s gonna happen to the housing market later this year? Mike Simonsen at REI bulletin has (he says) the answer: Prices will rise for another five months, mortgage rates will stay low, and real estate investment will be hot.
The biggest negative one can say about today’s housing market is that inventory is super low. Our Market Action Index … has turned into “Seller’s Market” territory for the first time in years in many markets.
On the downside, credit is still tight for people with bad credit. That limits the buyer pool, but I can’t say that’s a bad thing – for the long term health of the housing market.
Of course there’s more detail — head on over the REI Bulletin to read the rest.