There is a big imbalance in housing right now. More folks want to buy homes than there are homes available to be bought. Much like any commodity, a high demand causes prices to go up. We are not seeing the end of that right now. The expectation is that prices will continue to rise.
The experts are pretty much in agreement that the dynamics of the current housing market – a mismatch of inventory to demand – will keep upward pressure on housing prices. The strengthening job market means greater affordability and increased competition. If you are thinking of investing in your own personal wealth, now is a great time to get in there – before prices climb and interest rates rise even more!