The Housing Market has been like a Roller Coaster Ride for the Past Decade, are you Ready for the Incline?

The steep incline in housing market prices between 2003 and 2005 caused a bubble in the market and when the bubble burst the ride down was quick.  Homes that were once valued at $400,000 in 2005 were now only worth half price by 2007 and 2008.  By 2009 we saw homes being purchased for the same price they had sold for in 1999.  Could this mean that the housing market over corrected itself?

In 2009 and 2010 market prices became somewhat stable, similar to the last few moments of the roller coaster ride when it is coming to an end and you’re glad you survived.  

Historically in normal housing market conditions, prices increase by 3 to 4 percent per year, but in the past couple of years we have seen prices increase at a rate of 8%.  So are we headed for a “new bubble” or did the over correction of housing market prices in 2009 cause prices to increase more rapidly just to catch up with the new normal of 2013?

Overall it is a great time to buy and sell property, with prices bouncing back and low interest rates, it’s a win win for both buyers and sellers. Please contact me for more information.

For more information about housing market click here.

Bev Dudley, Realtor®
Fleur de Lis Realty
850-240-3933
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