Reply to I think the bubble is popping.

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Reply to "I think the bubble is popping."

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[quote=Anonymous][quote=Anonymous]Bubble did not pop in June (when OP posted) and it did not pop in July. No signs that it popped in August or that it will pop in the fall. There is no bubble. Just a lot of people wanting to buy homes and the same time and not enough homes for sale.

[quote]Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 19.7% annual gain in July, up from 18.7% in June — the fourth straight month in which the growth rate set a record. The 20-City Composite posted a 19.9% annual gain, up from 19.1% a month earlier. The 20-City results were just shy of analysts’ expectations of a 20% annual gain, according to Bloomberg consensus estimates.

“The National Composite Index marked its fourteenth consecutive month of accelerating prices with a 19.7% gain from year-ago levels, up from 18.7% in June and 16.9% in May,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a press statement. “The last several months have been extraordinary not only in the level of price gains, but in the consistency of gains across the country[/quote]

[quote]Prices are likely to head north through the end of the summer. The median existing-home price for all housing types in August was $356,700, up 14.9% from August 2020, as prices increased in all four regions of the U.S., the NAR reported last week. But there might be some relief as inventory is beginning to come back on the market. Lawrence Yun, NAR’s chief economist, said last month the decline in inventory is slowing down and expects the number of homes for sale to pick up by year-end.

But the “continued high buyer demand has even outstripped the improvements in the supply of for-sale homes from the all-time lows experienced in the spring. Going forward, while there are indicators suggesting buyer pullback, it is still not enough to subdue home price growth before fall,” said CoreLogic Deputy Chief Economist Selma Hepp in a press statement prior to the results.[/quote][/quote]

https://finance.yahoo.com/news/case-shiller-home-price-july-2021-130004846.html[/quote]

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