Up, Up and...Where?

The market is still going up! Is it going to keep going up, are prices going to become too unaffordable, will working class people not be able to buy houses anymore?

Thank fully the answer is no.

The market, as mentioned before, has been booming during the last couple months, even now which is supposed to be the slow season. Houses are going within days and homeowner's are getting a pretty penny for their homes. There is a low inventory of houses and a whole bunch of buyers moving looking for homes which are driving prices up but eventually it has to hit a peak.

What goes up must come down. The housing market is just like the stock market, it fluctuates, it goes up and it goes down. Some say that the market will make a slow decline when it caps and other thinks that it will just free fall and crash. No one will know for sure until it happens but everyone know it will happen.

It's regular supply and demand. Right now there is low supply, there are very homes on the market but a surplus of buyers. In other words, there is a huge demand for homes but not enough to go around. So the homes that are for sale are selling for a lot more than they are worth.

Once the demand goes down so will the home prices, homes will be on the market for longer and buyers won't be offering as much money as they are now. Once again, No one will know for sure exactly when it will happen but it will happen.