The big trend to watch these days is how insane the housing market has become. Stiff competition means high prices and fast-paced sales. Here’s how Bankrate broke it down this week.
1. Why is the market on fire?
That really is the question of the day. Especially early in the pandemic, many experts predicted people would stay put and real estate would see a slump. Instead, moving demand spiked in the last year, driven in part by changing homebuyer needs and low mortgage rates. Limited housing supply and sluggish construction are compounding those trends to push prices up.
2. Why this boom may not lead to a bust
The last time the market was this frenzied, the housing bubble burst and America entered the Great Recession. Fortunately for everyone, we’re unlikely to follow that same path this time around. Home financing…