Let’s talk about why home values aren’t expected to drop anytime soon and why this market is nothing like 2008
Between 1980 and 2000, birth rates surged. In 2000 alone, over 4 million babies were born and those people are now in their peak homebuying years. That’s a wave of buyer demand hitting the market right now
But here’s the catch, there simply aren’t enough homes. Even though inventory rose 21 percent year over year in April, we’re still under the 6 month supply that signals a balanced market. We’re short millions of homes to meet the demand
In 2008, home prices fell because of overbuilding and loose lending. Today, lending is strict, demand is strong, and there just aren’t enough homes
More buyers, fewer homes, that’s what drives prices up, not down
#HousingMarket #HomePrices #RealEstate