According to Clear Capital’s May Home Data Index, seven markets considered “major” in density and culture are in bubble territory, HousingWire reports.
These markets are the metro areas of Boston, Minneapolis, Chicago, Ventura, Calif., Bakersfield, Calif., Riverside, Calif., and Miami.
“The seven markets landed the “bubble” title after two years of consecutive quarterly softening,” HousingWire reports. “[This means] each subsequent quarter, over the two year period starting May 2013, has seen less growth than the previous quarter.”
Advertisement
Related Stories
Economics
Shelter Costs Drive Inflation Higher Than Expected in January
January Consumer Price Index data show inflation increased more than anticipated as shelter costs continue to rise despite Federal Reserve policy tightening
Economics
Weighing the Effects of the Fed's and Treasury's Latest Announcements
The upshot of the Jan. 31 announcements is that while mortgage rates will stay higher for longer, they're likely to hold steady
Economics
NAHB CEO Tobin Says 'Housing Renaissance' on the Horizon
Responding to positive housing-related data such as falling mortgage rates and increased homebuyer activity, NAHB's CEO Jim Tobin is optimistic