As home values continue to rise, some are questioning whether we are approaching another housing bubble.Zillowjustreportedthat:
“National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.”
Though that statement is correct, we must realize that just catching prices of a decade ago does not mean we are at bubble numbers. Here is a graph of median prices as reported by theNational Association of Realtors(NAR).
We can see that prices rose during the early 2000s, fell during the crash and have risen since 2013.
However, let’s assume there was no housing bubble and crash and that home prices appreciated at normal historic levels (3.6% annually) over the last ten years.
Here is a graph comparing actual price appreciation (tan bars) with what prices would have been with normal appreciation (blue bars).
As we can see, had there not been a boom and bust, home values would essentially be where they are right now.
Author:Derrick Houston Phone: 214-385-1221 Dated: June 16th 2017 Views: 49 About Derrick: Derrick has been in real estate for seven years. Before embarking on a career in real estate, Derric...
View our latest blog posts in your RSS reader. Click here to access.
Although born in Galveston, Elaine was raised a Georgia peach in the big city of Atlanta. She's the perfect mix of “Gone with the Wind meets Sex and the City” because of her love for all things Southern, ridiculously high heels and the city life. Every once in a while you might catch her slipping and hear her true Georgia accent but you’ll always hear “yes ma’am, pardon me, and bless it” from this Southern Belle.
Elaine loves being a Realtor because it allows so many opportunities to meet new people and take part of a major milestone in their lives. Buying or selling a home is not a small blip on the life chart. It can be one of the best or worst times in people’s lives and she takes a lot of consideration in making each transaction as memorable (in a great way) and as seamless as possible.
As a local Residential Real Estate expert Elaine takes a tremendous amount of pride in assisting both home buyers and sellers in maximizing their profits during every transaction. Her 12 years of experience in the Dallas housing market is true, hands on experience.
“I’m not a housewife selling real estate part-time for shoe money, although that sounds fabulous. I’m a 100% full-time Realtor that lives and breathes this business. The only thing that rivals my passion for my career is my love all things Kentucky Derby.”
When Elaine is not finding her client’s next dream home she enjoys traveling to any tropical location, singing very off key and finding money. Her “Super Hero Powers” include making a mean Mint Julep, knowing every word to the Devil Went Down to Georgia and turning any conversation in to a Drake song.