itself, is driving prices higher faster, but forecasters say that may not last.
"Mortgage rates hit record lows this spring, which enhanced affordability for homebuyers," said Frank Nothaft, chief economist at CoreLogic. "First-time buyers, and millennials in particular, have jumped at the opportunity to achieve homeownership." Prices in San Diego and Washington, D.C., were strong, mostly because the supply of homes for sale in each market is so low and demand is so high. Inventory in D.C. was 25% lower annually in June, according to a report from Long & Foster, a real estate sales company.
CME Case Shiller home price index futures priced consistent with 3-7+% declines over the next year.
Who are your analyst Prices will only go higher as there is no supply. Seriously hire an 8th grader cause your people don’t have a clue!!
Young people can invest in real estate as well! Stop complaining that old people are gaining wealth from property equity and get into the market yourself, there is more than one way to do it!
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