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Is the Greater Birmingham Area housing market in a bubble right now? Local experts speak up

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outdoor entertainment spaces are hot, Birmingham housing market bubble
Everybody wants room to entertain outside now. Photo via LAH Real Estate

June 1 kicked off National Homeownership Month, and the US housing market is as hot as an Alabama summer. You can’t look at the news without hearing talk about whether we’re in a housing market bubble, and if so, when the bubble will burst. To learn about the current state of our local housing market, we reached out to four Realtors and three experts. Here’s what they told us. 

First, let’s define our terms: what exactly is a housing bubble?

Home for sale ARC Realty, Birmingham housing bubble
High demand, low supply and high prices are all part of the equation. Photo via Matthew Niblett for Bham Now

According to bankrate.com, “A real estate bubble, also referred to as a ‘housing bubble,’ occurs when the price of housing rises at a rapid pace, driven by an increase in demand, limited supply and emotional buying. 

Once…

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