Prices keep rising, but according to David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices, “There is no bubble to be anxious about.”
Blitzer isn’t alone. According to NAR Chief Economist Lawrence Yun, it isn’t a bubble that he worries about with the price increases, but that the lack of affordability may decrease demand.
This month marks the 35th consecutive month of a climb in home prices, based on the S&P/Case-Shiller Home Price Index released Tuesday, The Wall Street Journal reports.
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