Although prices continue to climb, no other current signs point to a housing bubble in the near future, according to a new report. Given job growth, income surges, lending standards and low mortgage rates, metro-level housing markets remain mostly healthy through the second quarter, according to Nationwide’s Health of Housing Markets Report. "Home prices reaching or even passing their pre-crash highs of a decade ago does not signal a bubble in the near future," David Berson, Nationwide senior vice president and chief economist, said in a statement. "Even with record-high prices in some markets, housing remains relatively affordable, and we are not concerned about a national bubble." HoHM Report / Nationwide At least two years before the last housing bubble burst, more than 75 percent of metros indicated signs of trouble, Nationwide says. Today, its data shows more than half of metros remain below their price peaks, and only 7.1 percent of mortgage holders are curren...
- Despite increasing housing prices, most markets are balanced by strong job growth, low mortgage rates and rising incomes, according to Nationwide’s Health of Housing Markets Report.
- Austin, San Francisco, San Jose, Dallas and Houston home prices are 20 percent above pre-crash highs.
- Five of the bottom 10 metro areas – or the least healthy housing markets – are located in Texas.