Are we in a housing bubble?

By
Real Estate Agent with Royal LePage Real Estate Services Ltd.

There's no question the market is red hot! Things are back to where there were just a couple of years ago, where everytime I called to book an appointment on a new listing - I literally held my breath - waiting to see a) if it was still available or b) whether there were one or two (or even more) offers registered. Not a cocktail party went by in December 2009 where we didn't discuss the real estate market.  And yes, every showing I've wanted to book this second week in January has had offers on it.

Is it sustainable, is it going to get worse - there's no doubt a lack of demand is driving most of the numbers we're seeing, but where it will go is impossible to say.

There was an article appeared on Yahoo Today and it is well worth reading! Whether you're an agent, a buyer or a seller.

 Record home sales to cap off 2009 based on supply and demand, not bubble - here's the link

http://ca.news.finance.yahoo.com/print/s/15012010/2/biz-finance-record-home-sales-cap-2009-based-supply-demand.html

Comments (1)

Ellen Crawford
Maximum One Executive REALTORS® - Alpharetta, GA
Alpharetta Real Estate Agents & Alpharetta REALTOR

Great post, but there is really only one answer.  Time will tell us.  China has denied they are in a real estate bubble until this last week.  Now they are trying to cool everyone's heels buy increasing hte amount of reserves the banks must have on hand.  So guess what?  It's a bubble.  Low rates and lack credit are fuel for the fire.

Jan 15, 2010 09:13 AM