Is the Housing Market Overvalued? What Buyers Need To Know
By Clare Trapasso | REALTOR.COM Is the housing market overvalued? It’s an increasingly fraught question, and the answer might depend on who’s being asked. Some real estate experts believe home prices are well above what they should be and expect them to begin coming down. Others think the high prices make sense given how many people are still in the market looking for properties, despite mortgage rates nearing 8%. “If you look at how much income homebuyers are putting toward their housing payment, if the number is not the highest ever, it’s really darn close,” says Realtor.com® Chief Economist Danielle Hale. No one wants to buy a home at the peak of the market—and...
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