If you've been following my blog or Facebook page (https://www.facebook.com/TemeculaRealEstateandProperties/) you know I've been very bullish on housing.
It's Economics 101: Demand is rising and supply can't keep up. That's sending home prices higher.
New data on the housing market show that supply continues to tighten as housing prices are still on the rise.
The Case-Shiller Index – a measure of single-family homes across 20 of the country's largest cities – jumped 5.7% in June.
And as David Blitzer, managing director and chairman at S&P Dow Jones Indices told housing news outlet HousingWire, rising home prices don't appear to be slowing anytime soon.
The trend of increasing home prices is continuing. Price increases are supported by a tight housing market.
I agree.
Of course, as prices increase, homes become less affordable.
But today's housing market is far healthier than during the previous bubble in 2006, which was fueled by a glut of subprime lending that was destined to blow up.
Not so this time around.
All mortgages written since the financial crisis are what's called 'Full-Doc Loans' meaning, full income verification based on the verified annual tax returns of borrowers.
Hope you have a great weekend and please call me if I can help you with anything at all.
Ken
951-760-3833
KenAHall@gmail.com
