I don't think so.
Today's buyers are bringing in cash like there's no tomorrow.
These aren't the days when prices were escalating due to stated income, mirror fogging buyers and lenders who fed off them.
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This increase is fueled by savvy people who have waited for their turn. Prices have come off the bottom and interest rates are still amazingly low.
I understand prices can't keep going up at this 20-30% clip. I think we are already seeing a leveling off. That doesn't mean prices are coming down; they just aren't going up as fast.
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If you looked at homes a while ago and decided to start again, you might be surprised. The bottom has come up dramatically. If you add that to the increased interest rates, you might be surprised to find yourself re-evaluating your options.
Even with the good economic news out there and the threat of rising rates, the housing market is still strong and well positioned to continue in a positive direction. Inventory is down 68.5% in our region from April 2011, according to the OC Register today.
