A nationwide increase in median home values coupled with low inventory indicates a stronger post-recession market. However, more Americans are becoming wary of this upward trajectory, according to ValueInsured’s recent Modern Homebuyer survey. In fact, a majority of participants believe the country is headed for another market correction.
Americans increasingly believe the housing market is overheating and home prices continue to rise, and said they suspect a housing price correction may be imminent, according to the latest Modern Homebuyer Survey from ValueInsured, a provider of down payment protection for homebuyers.
More than half of American homeowners—58 percent—say they expect there will be a “housing bubble and a price correction” within the next two years, according to the latest survey of more than 1,000 Americans from ValueInsured’s Modern Homebuyer Survey.
NAR's latest Housing Pulse survey echoes some of ValueInsured's findings, with six of 10 respondents saying they are concerned about the cost to buy a home or high rent prices in their area. Eighty-four percent of the Housing Pulse respondents say they believe buying a home is a good financial decision, and affordability was ranked as the fourth top issue, after affordable health care, low wages and debt, and heroin and opioid drug abuse.
Millennials are Especially Wary of Market Fluctuations, According to the Latest ValueInsured℠ Modern Homebuyer Survey
DALLAS, August 9, 2017 – Americans have simmering concerns about overheated home prices and increasingly suspect that a housing price correction may be imminent, according to ValueInsured’s latest Modern Homebuyer Survey.
